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Legend Power Systems Inc Announces Non-Material Related Party Transaction


Tuesday, 13 Nov 2012 05:52pm EST 

Legend Power Systems Inc announced that pursuant to TSX Venture Exchange requirements it has privately sold 270,000 units of Legend Power (Units) at a price of $0.05 for gross proceeds of $13,500 to one insider of the Company. Each Unit consists of one common share of Legend Power (a Share) and one common share purchase warrant (a Warrant). Each whole Warrant entitles the holder thereof to purchase one Share at a price of $0.10 per Share for a period of 12 months following the closing of the Offering. All securities issued in connection with the Offering are subject to a statutory four-month hold period expiring on March 14, 2013. The proceeds from the Offering will be used by Legend Power for working capital purposes. 

Company Quote

0.51
-0.06 -10.53%
3:20pm EDT