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Legend Power Systems Inc. Closes $10.3 Million Upsized Bought Deal Offering

V.LPS

VANCOUVER, BC / ACCESSWIRE / June 15, 2021 / Legend Power Systems Inc. ("Legend Power" or the "Company") (TSX-V:LPS) (OTCQB:LPSIF) completed its bought deal offering of units of the Company ("Units") previously announced May 25 and 26, 2021 (the "Offering"). The Offering was led by Stifel GMP,as sole bookrunner and lead underwriter on behalf of a syndicate of underwriters including Cormark Securities Inc. and Desjardins Securities Inc. (the "Underwriters"). The Company issued a total of 13,700,000 Units, which included the exercise of the Underwriters' over-allotment option, for proceeds of $10,275,000. The Company anticipates issuing the remaining 100,000 Units available under the Offering shortly.

Each Unit consists of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.95 at any time up to 24 months following the closing date of the Offering.

The Units were sold under a short form prospectus filed in all of the provinces of Canada except Quebec pursuant to National Instrument 44-101 Short Form Prospectus Distributions and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933,as amended. The securities offered have not been,nor will they be, registered under the United States Securities Act of 1933, as amended,and may not be offered or sold in the United States or to, or for the accountor benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful

About Legend Power Systems Inc.

Legend Power Systems Inc. (www.legendpower.com) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend's proven solutions support proactive executive decision-making in a complex and volatile business and energy environment.

For further information, please contact:

Steve Vanry, CFO
+ 1 604 671 9522
svanry@legendpower.com

Sean Peasgood, Investor Relations
+ 1 647 503 1054
sean@sophiccapital.com

Forward-Looking Statements

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 to 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Legend Power Systems Inc.



View source version on accesswire.com:
https://www.accesswire.com/651775/Legend-Power-Systems-Inc-Closes-103-Million-Upsized-Bought-Deal-Offering



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