The Offering is being completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the 'LIFE Exemption'). The Company has filed a Form 45-106F19 offering document (the 'Offering Document') related to the Offering that can be accessed under Legend Power's profile at www.sedar.com and on the Company's website https://legendpower.com/investors/. Prospective investors should read the Offering Document before making an investment decision.
Each Unit will consist of one common share in the capital of the Company (each, a 'Share') and one common share purchase warrant (each, a 'Warrant'). Each Warrant will entitle the holder thereof to acquire one additional Share at an exercise price of
The Company intends to use the net proceeds from the Offering for general working capital purposes, fixed operating expenses, purchase order deposits, development expense and other related expenses, as more specifically detailed in the Offering Document. The Units issued in the Offering will not be subject to a hold period, subject to limitations prescribed by the LIFE exemption, and securities issued to insiders of the Company will be subject to a hold period expiring 4 months and 1 day after issuance, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws. It is anticipated that insiders of the Company may participate in the Offering for up to
The Offering may close in tranches and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Exchange.
The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within
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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 closing of the Offering, the use of proceeds from the Offering, the ability of the Company to obtain regulatory approval for the Offering, 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 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.
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