Tickers: XTSX:LPS, PINX:LPSIF
Tags: Mining
Vancouver, Canada / TheNewswire / October 3, 2017 - Legend Power Systems Inc. (TSXV: LPS) (the "Company"), a global leader in voltage reduction and optimization technology, today announced that it has expanded business operations to the United States. The Company is sales ready in its first, non-Canadian location of New York City. With a name-brand, Fortune 500 account established in New York, utility support in place, and local sales staff coming online, the Company is positioned to capitalize on the massive opportunity the United States represents.
"Expansion to the U.S. is the next logical step in Legend's evolution, and now is the right time to execute this strategic growth," commented Randy Buchamer, Legend Power's President and CEO. "Our product is currently helping over 200 Canadian building owners save money on power. New York is the perfect next location for Legend because voltage is a known problem in the region, and the city is packed with buildings that can financially benefit from voltage management. Legend will be a dominant force in energy efficiency and expansion through a network of distributors will quickly and cost effectively get us there."
Legend's go-to-market strategy for the United States includes establishing a network of distribution partners to allow for rapid and cost-effective expansion. The Company's voltage management technology represents a wholly new efficiency measure that offers early members of a distribution network a considerable advantage over their competition. The Harmonizer is an industry proven technology that helps a wide array of building types use less energy and save money on power. Expansion to the United States will allow significantly more buildings to enjoy the benefits of this new, money saving technology.
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.
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 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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