Mr. Jonathan Lansky reports

LEGEND POWER SYSTEMS ANNOUNCES CLOSING OF FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT PURSUANT TO THE LISTED ISSUER EXEMPTION

Legend Power Systems Inc. has closed a second and final tranche of a non-brokered private placement (see press release dated Aug. 8, 2023), pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions, by issuing 1,432,000 units at a price of 18 cents per unit for gross proceeds of $257,760. Under both tranches, the company issued a total of 14,117,113 units for aggregate gross proceeds of $2,541,080 (see first tranche closing press release dated Aug. 1, 2023). The company filed a Form 45-106F19 offering document on July 18, 2023, related to the offering, which may be accessed under Legend Power's profile on SEDAR+ and on the company's website.

Pursuant to the offering, each unit consisted of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at 25 cents for a period of two years from the date of issuance, subject to an accelerated expiry provision, whereby in the event the daily volume-weighted average trading price of the company's common shares on the TSX Venture Exchange, or such other stock exchange where the majority of the trading volume occurs, exceeds 40 cents for a period of 10 consecutive trading days, at the company's election, the period within which the warrants are exercisable, will be reduced and the holders of the warrants will be entitled to exercise their warrants for a period of 30 days commencing on the day the company provides notice, any outstanding warrants not exercised during the 30 day period will expire.

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 are not subject to a hold period, subject to limitations prescribed by the LIFE exemption. Securities issued to insiders and consultants of the company in connection with the first tranche are subject to a hold period expiring Dec. 1, 2023, in accordance with the rules and policies of the exchange and applicable Canadian securities laws.

About Legend Power Systems Inc.

Legend Power Systems 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 pro-active 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.

We seek Safe Harbor.