Legend Power arranges LIFE offering

Executive Summary

• Legend Power Systems Inc. announced a non-brokered private placement of units pursuant to the Listed Issuer Financing Exemption.
• The offering targets a minimum of 11,111,111 units and a maximum of 14,186,000 units at a price of $0.12 per unit.
• Net proceeds are intended for operating expenses, material purchases, and general working capital.

Key Details

• Transaction Structure: Non-brokered private placement under National Instrument 45-106 (Listed Issuer Financing Exemption).
• Units Offered: Minimum of 11,111,111 units; Maximum of 14,186,000 units.
• Price: $0.12 per unit.
• Gross Proceeds: Minimum of $1,333,333; Maximum of $1,702,320.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms:
  • Each warrant entitles the holder to acquire one additional common share.
  • Exercise Price: $0.20 per common share.
  • Term: 24 months from issuance.
  • Accelerated Expiry: If the daily volume-weighted average trading price exceeds $0.25 for 10 consecutive trading days, the company may reduce the exercise period. Holders will have 30 days to exercise from notice; unexercised warrants expire.
• Finder’s Fees:
  • Cash commission of up to 5.0% on total proceeds from subscribers introduced by eligible finders.
  • Issuance of non-transferable common share purchase warrants equal to up to 3.0% of total units issued to subscribers introduced by eligible finders.
  • Finder Warrant Terms: Exercise price of $0.20, term of 24 months, subject to the same accelerated expiry provision.
  • Hold Period: Securities issued to eligible finders are subject to a statutory hold period of four months and one day.
• Use of Proceeds: Primarily for operating expenses, material purchases, and general working capital.
• Closing Schedule:
  • First-tranche closing: On or before December 5, 2025.
  • Final closing: No later than January 8, 2026.
• Jurisdiction: Available to purchasers resident in Canada (except Quebec) and other jurisdictions in compliance with applicable securities laws.
• Hold Period: Units issued are not subject to any statutory hold period under applicable Canadian securities laws, subject to limitations prescribed by the Listed Issuer Financing Exemption.