Legend Power Executes Next Steps in U.S. Expansion Strategy; Select Reseller Network to be Provided with Compelling Opportunity
Vancouver, Canada, July 25, 2018 – Legend Power® Systems Inc. (TSXV: LPS) (“Legend Power” or the “Company”), a global leader in voltage management technology, announced today that it has implemented additional key elements of its U.S. expansion strategy. Extending the success seen in its Canadian buildout, and based on insights gained there, the Company is targeting five additional U.S. geographic markets with a team comprised of Company veterans and an external expert with proven corporate growth expertise.
Director of Sales, Kathleen Reeves who was key to the successful development of Legend Power’s Ontario sales growth, has relocated to New York City to strengthen and expand the sales team there. New York, represents a significant opportunity for Legend Power. The Company has already completed a sale and installation with a Fortune 100 company in Manhattan, and is nearing completion of additional deals.
Director of Business Development, Erik Wolfe is now focused on development of the additional five new U.S. markets by the end of 2018. Mr. Wolfe will leverage his direct experience and success in developing reseller channels in Canada to identify partners that have proven resources, aptitude and strong customer access. With thousands of potential resellers to choose from, the Company is applying knowledge of what has worked before, to attract the best available resellers.
To further support and ensure the success of the U.S. expansion, Legend has engaged well- regarded corporate growth expert, Norman Friend to ensure the Company’s channel growth programs are world-class. The engagement of Franchise 101 Incorporated will focus on development of a complete “personalized reseller program” to ensure strong sales results for the Company’s growing U.S. reseller network. Mr. Friend has guided strategic growth structuring, implementation planning and execution across both Canada and the U.S. for hundreds of companies.
“Our strategic plan for U.S. expansion is based on replicating what worked in Ontario, Canada’s biggest market,” said Legend Power® Systems CEO Randy Buchamer.
About Legend Power® Systems Inc.
Legend Power® Systems Inc. (www.legendpower.com) is a global leader in voltage management technology. We help buildings use less energy by eliminating ‘overvoltage’; an inherent challenge associated with power grids around the world. Legend’s industry-proven HarmonizerTM enables dynamic power-management of an entire building. The proprietary and patented system reduces total energy consumption and power costs, while also maximizing the life of electrical equipment. Legend’s unique solution is also a key contributor to both corporate sustainability efforts, and the meeting of utility energy efficiency targets.
Steve Vanry, CFO
Sean Peasgood, Investor Relations
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This Press Release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law.
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