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LEGEND POWER RAISES APPROXIMATELY $3,352,550 ON CLOSING OF BROKERED PRIVATE PLACEMENT, ANNOUNCES CHANGE OF DIRECTORS AND OFFICERS, AND OPTION GRANTS
LEGEND POWER RAISES APPROXIMATELY $3,352,550 ON CLOSING OF BROKERED PRIVATE PLACEMENT, ANNOUNCES ...
About this update from Legend Power Systems Inc.
[{"type":"text","content":"\n\n\n\n Nov. 5, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES/\n\n\nBURNABY, BC, Nov. 5 /CNW/ - Legend Power Systems Inc. (TSX.V: LPS)\n ("Legend Power") is pleased to announce that it has completed the\n brokered private placement (the "Offering") previously announced in its\n news release of September 20, 2010. The agent for the Offering was\n Ionic Securities Ltd. (the "Agent"). The Agent exercised its option to\n increase the number of Units sold under the Offering up to 23,000,000\n units ("Units") for gross proceeds of up to $3,450,000.\n\n\nThe closing consisted of 22,350,332 Units at a price of $0.15 per Unit\n for gross proceeds of approximately $3,352,550. Each Unit consists of\n one common share of Legend Power (a "Share") and one common share\n purchase warrant (a "Warrant"). Each whole Warrant entitles the holder\n thereof to purchase one Share at a price of $0.25 per Share for a\n period of 24 months following the closing of the Offering. Legend Power\n is entitled to accelerate the expiry date of the Warrants to the date\n that is 30 days following the date Legend Power gives written notice to\n the Warrant holders that the trading price of the Shares on the TSX\n Venture Exchange (the "Exchange") has been greater than $0.45 for any\n 20 consecutive trading days.\n\n\nThe Agent received a cash commissio...