Legend Power Systems Receives Approval to Amend Term of Warrants

Rhea-AI Summary

Legend Power Systems (OTCQB: LPSIF), a commercial electrical system solutions provider, has received approval from the TSX Venture Exchange to extend the expiry date of 12,861,553 common share purchase warrants. The warrants, originally issued in a two-tranche private placement in July and August 2023 with an exercise price of $0.25, will have their expiry dates extended by one year to July 31, 2026, and August 22, 2026, respectively.

Positive

• Extension provides additional time for warrant holders to exercise their rights

Negative

• Potential future dilution if warrants are exercised

Vancouver, British Columbia--(Newsfile Corp. - July 29, 2025) - Legend Power Systems Inc. (TSXV: LPS) (OTCQB: LPSIF) ("Legend Power" or the "Company"), a global leader in commercial electrical system solutions, announces that the TSX Venture Exchange (the "Exchange") has consented to an extension on the term of 12,861,553 common share purchase warrants (the "Warrants") that were issued under the Company's private placement of units completed in two tranches on July 31, 2023 and August 22, 2023. The Warrants have an exercise price of $0.25 and were set to expire on July 31, 2025 and August 22, 2025. The Company has received consent from the Exchange to extend the expiry date of the Warrants to July 31, 2026 and August 22, 2026 in accordance with Exchange policies.

About Legend Power Systems Inc.

Legend Power Systems Inc. (https://legendpower.com/) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend Power's proven solutions support proactive executive decision-making in a complex and volatile business and energy environment. The proprietary and patented system reduces total energy consumption and power costs, while also maximizing the life of electrical equipment. Legend Power's unique solution is also a key contributor to both corporate sustainability efforts and the meeting of utility energy efficiency targets.

About SmartGATE

SmartGATE is a turnkey solution that identifies and resolves inefficiencies in commercial electrical systems, enhancing energy performance while reducing costs and emissions. The SmartGATE active energy management system installs after the meter in line with your switchgear. Using our patented technology, we extract a percentage of the load, convert and analyze it, rebuild the waveform, and then inject it back into your system. This provides full voltage regulation (+/- 8%) to your exact specification, on each phase individually to address the main power attributes that impact system reliability, lifetime, and efficiency. All focused on reducing energy consumption while creating optimal power for optimal performance with a footprint designed for today's buildings.

For further information, please contact:

Jonathan Lansky, Director
+1 416 417 7664
lansky.j@icloud.com

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

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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.sedarplus.ca. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260493

FAQ

What is the new expiry date for Legend Power Systems' (LPSIF) warrants?

The warrants will now expire on July 31, 2026, and August 22, 2026, extended from their original 2025 expiry dates.

How many warrants are affected by Legend Power Systems' warrant extension?

12,861,553 common share purchase warrants are affected by the extension.

What is the exercise price of Legend Power Systems' (LPSIF) extended warrants?

The warrants have an exercise price of $0.25 per share.

When were the original warrants issued by Legend Power Systems?

The warrants were originally issued in two tranches on July 31, 2023 and August 22, 2023 as part of a private placement.