VANCOUVER, B.C., April 12, 2018 (GLOBE NEWSWIRE) -- Legend Power Systems Inc. (TSXV:LPS), a global leader in voltage reduction and management technology, is pleased to announce that Mr. Cosimo (Cos) La Porta has been appointed to the Company’s Board of Directors.
Mr. La Porta is a veteran of the Starbucks Coffee Company, having served 18 years in a number of senior executive operations roles. In his most recent role, Mr. La Porta was the Executive Vice President, US Retail Business where he provided leadership to a cross-functional team responsible for 150,000 employees, and the operations of 7,600 company operated retail stores with sales exceeding $9 billion.
“We are delighted to add a global executive of Cos’s calibre to our Board and look forward to his contributions,” said Randy Buchamer, CEO, Legend Power Systems. “Throughout his career and especially at Starbucks, Cos built a track record of success growing the business in new and emerging markets. He can mentor teams to increase sales while delivering an outstanding customer experience. He brings to our company an impressive network of real estate developers and property owners throughout the US. More than just an expert in business operations, an exceptional leader, and developer of top talent, Cos has the mindset of a pioneer capable of guiding Legend on a path of rapid growth in new territories and regions. He will be an invaluable asset to Legend Power’s US expansion plan”.
Mr. La Porta has extensive experience directing multi-unit retail networks with company-owned, franchise, and licensed operations in the United States, Canada, and international markets. He is known for driving business results through people development, with a strong emphasis on alignment with corporate values.
Mr. La Porta holds a Bachelor of Arts Degree in Political Science (Major), History and Business Administration (Minor) from Simon Fraser University.
Pursuant to its Stock Option Plan the Company has granted Mr. La Porta 300,000 incentive stock options exercisable at a price of $0.80 per share. The options vest over a 3-year period and have a term of five years.
About Legend Power Systems Inc.
Legend Power Systems Inc. (www.legendpower.com) is changing the way buildings around the world use power. The company’s patented and proprietary technology reduces overvoltage, a natural condition present in power grids around the world. Overvoltage inflates energy costs, damages electrical equipment, and increases the negative impact a building has on the environment. Legend’s utility-proven Harmonizer improves the power efficiency of an entire building to reduce total energy consumption and power costs, while maximizing equipment life. The solution provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts. As an application with demand side benefits, Legend is also a key contributor toward utility conservation goals. In 2015 Legend was recognized as the top performing cleantech company on the TSX Venture Exchange.
For further information, please contact:
Randy Buchamer, CEO and President
+ 1 778 945 1501
rbuchamer@legendpower.com
Sean Peasgood, Investor Relations
+ 1 416 565 2805
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.sedar.com. 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 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.