Vancouver, British Columbia--(Newsfile Corp. - October 4, 2023) - Legend Power Systems Inc. (TSXV: LPS) (OTCQB: LPSIF) ("Legend Power" or the "Company"), at the request of CIRO, the Company would like to clarify the following referenced in the press release dated October 3, 2023 entitled "Legend Power Systems Announces Significant Operational and Sales Progress":
U.S. Federal Government operates an estimated 3b sq ft of Federal facilities1 and this could account for a projected total of over 10,000 systems over the coming 10 years if deployed widely across most Federally operated facilities, however, there is no guarantee from the Company at this time.
Additional clarification is that the additional 200 prospects (non-customers) active in the pipeline represent a total of almost ten thousand buildings/facilities with a total addressable active power management market (TAM) size of over 10,000 Active Power Management systems for a TAM of $2b US. This is not intended to serve as a forecast or projection.
The Company has prepared a forecast using assumptions that reflect its planned course of action taking into consideration reasonable estimates for the upcoming one-year period per Appendix 3E (4) and NI 51-102 of the TSX V Venture Exchange Corporate Finance Manual. More information, including the Company's quarterly and annual Management's Discussion & Analysis, may be viewed on SEDAR+ at https://www.sedarplus.ca.
About Legend Power® Systems Inc.
Legend Power Systems Inc. (https://legendpower.com) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend Power's proven solutions support proactive executive decision-making in a complex and volatile business and energy environment. The proprietary and patented system reduces total energy consumption and power costs, while also maximizing the life of electrical equipment. Legend Power's unique solution is also a key contributor to both corporate sustainability efforts and the meeting of utility energy efficiency targets.
For further information, please contact:
Jonathan Lansky, Director
+1 416 417 7664
lansky.j@icloud.com
Sean Peasgood, Investor Relations
+ 1 647 503 1054
sean@sophiccapital.com
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.sedarplus.ca. 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 to 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.
1 Federal Real Property Council's FY2008 Federal Real Property Report. The largest Federal holders of real property, based on building square footage, are the Department of Defense (70%), the U.S. General Services Administration (15%), Department of Veterans Affairs (6%), and the Department of the Interior (4%).
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