Legend Power cancels one placement, arranges another

Executive Summary

• Legend Power Systems Inc. announced a non-brokered private placement of units pursuant to the Listed Issuer Financing Exemption, following the termination of a previous offering announced on November 25, 2025.
• The company is raising a minimum of $1,333,333 and a maximum of $1,702,320 through the sale of 11,111,111 to 14,186,000 units.
• Proceeds are intended for operating expenses, material purchases, and general working capital, with a final closing deadline of January 31, 2026.

Key Details

• Transaction Structure: Non-brokered private placement under National Instrument 45-106 (Part 5A - Listed Issuer Financing Exemption).
• Units Offered: Minimum of 11,111,111 units; Maximum of 14,186,000 units.
• Price: 12 cents per unit.
• Gross Proceeds: Minimum of $1,333,333; Maximum of $1,702,320.
• Warrant Terms (Investors): Each unit includes one common share and one common share purchase warrant. Warrants allow acquisition of one additional common share at an exercise price of 12 cents per share for a period of 36 months from issuance.
• Statutory Hold Period: Units issued are not subject to statutory hold periods (subject to Listed Issuer Financing Exemption limitations).
• Finder’s Compensation:
  • Cash commission of up to 5.0% on total proceeds from subscribers introduced by eligible finders.
  • Non-transferable common share purchase warrants equal to up to 3.0% of total units issued to subscribers introduced by eligible finders.
  • Finder’s warrants entitle holder to acquire one common share at 12 cents per share for 36 months.
  • Finder’s securities are subject to a statutory hold period of four months and one day after issuance.
• Use of Proceeds: Primarily for operating expenses, material purchases, and general working capital purposes.
• Closing Conditions: Subject to necessary approvals, including exchange approval.
• Timeline: Offering may close in multiple tranches; final closing no later than January 31, 2026.
• Previous Offering: The non-brokered private placement previously announced on November 25, 2025, has been terminated.