Legend Power announces private placement to raise up to CAD$1.7 million

Legend Power Systems Inc. (TSXV: LPS) (OTCQB: LPSIF) announced a non-brokered private placement offering between 11,111,111 and 14,186,000 units at CAD$0.12 per unit. The offering will raise between CAD$1,333,333 and CAD$1,702,320 in gross proceeds.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional common shares at CAD$0.20 per share for 24 months from issuance. The company may accelerate warrant expiry to 30 days if its share price exceeds $0.25 for 10 consecutive trading days.

The offering is available to Canadian residents excluding Quebec and other jurisdictions outside Canada where permitted by securities laws. The company filed a Form 45-106F19 offering document available on SEDAR+ and its website.

Legend Power may pay finders' fees up to 5% of proceeds and issue finder warrants equal to 3% of units sold through eligible finders. These finder warrants have the same CAD$0.20 exercise price and 24-month term.

The company plans to use proceeds for operating expenses, material purchases and working capital. The first tranche is expected to close by December 5, 2025, with final closing no later than January 8, 2026. The offering requires exchange approval and other standard conditions.

Legend Power provides energy management platforms that analyze building energy systems to reduce consumption and costs while extending electrical equipment life. The Vancouver-based company trades on the TSX Venture Exchange and OTCQB markets.

You May Also Be Interested In

• Corning (GLW) files for up to $2B offering of common shares
• HSBC Downgrades Iflytek Co Ltd (002230:CH) to Hold
• Nautilus Biotechnology (NAUT) files $300M mixed shelf