Legend Power Expands Sales Team with the Addition of Two New Business Development Managers
Vancouver, Canada, June 13, 2017 – Legend Power Systems Inc. (TSXV: LPS), a global leader in voltage reduction and optimization technology, today announced the addition of two new members to its Ontario-based direct sales team. Lauren Davis and Keon Karamchi were added as Business Development Managers to increase the company’s sales capacity due to strong demand in emerging market verticals. The new additions will compliment the existing sales team by adding horsepower to existing market verticals for expansion and revenue growth.
“Expanding our direct sales team is the critical next step in our strategic expansion plan,” stated Randy Buchamer, President and CEO of Legend Power. “We’ve built a repeatable selling model based on what we’ve learned to date. Expanding our sales team will allow us to satisfy increasing product demand and quickly scale up sales activity and revenue growth. Everything we learn in a direct sales environment will be applied to a distributor-based selling model as we expand into new geographic territories and countries.”
Legend Power has established business in 13 market verticals with strategic emphasis on the 6 identified as the highest growth potential for its Harmonizer solution. Record revenue growth and considerable market penetration continues to grow in the education sector with deals spanning individual institutions and various school boards. Specific sectors to receive additional sales resource deployment due to untapped market opportunity and pent-up demand include retail, property management, and government.
Direct sales activity to develop core market verticals into organically growing profit centers provides Legend the intelligence to successfully and systematically migrate to a distribution partner selling methodology. By directly understanding the needs, common objections, and path to sales success, the company can properly train and enable channel partners to sell Harmonizer systems. Expansion through a network of local distribution partners is the next growth stage for the organization.
About Legend Power Systems Inc.
Legend Power Systems Inc. (www.legendpower.com) is changing the way buildings around the world use power. The company’s patented and proprietary technology reduces overvoltage, a natural condition present in power grids around the world. Overvoltage inflates energy costs, damages electrical equipment, and increases the negative impact a building has on the environment. Legend’s utility-proven Harmonizer improves the power efficiency of an entire building to reduce total energy consumption and power costs, while maximizing equipment life. The solution provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts. As an application with demand side benefits, Legend is also a key contributor toward utility conservation goals. In 2015 Legend was recognized as the top performing cleantech company on the TSX Venture Exchange.
For further information, please contact:
Randy Buchamer, CEO and President
+ 1 778 945 1501
Sean Peasgood, Investor Relations
+ 1 416 565 2805
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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