LEGENDS EXECUTES LETTER OF INTENT; ACQUIRES NEW TYPE OF BATTERY CHARGING DEVICE
Jul 17, 2012
OTC Disclosure & News Service
Miami, FL - Legends Business Group, Inc. implements first step to manufacture and distribute a new type of battery charging technology.
Legends Business Group (LGBS: PK) announced today it entered into a Letter of Intent (LOI) to acquire the exclusive rights to manufacture and distribute what it thinks is the future in battery charging technology. The Letter of Intent comes at the conclusion of months of research and negotiations, which have led to the procurement of Legends own product.
According to the terms of the LOI, Legends will attain, manufacture, distribute, and build in the USA the ultra efficient battery charging technology. While the exact terms of the final agreement will be announced after closing, the acquisition is projected to be completed with an offering of ten million restricted common shares and a percentage of gross revenue going to the inventor. Additionally as part of the terms, the company has agreed to regain its fully reporting status with the Securities and Exchange Commission (SEC) by December 31, 2012.
“We are extremely excited to have the opportunity to better serve our customers - offering an exceptional product to the green energy market,” said Rudy Sablon, President and CEO of Legends. The move to manufacture and distribute has also motivated Legend’s to seek out an independent 3rd party testing company to push this new battery charging technology to its limits. “With the focus now on better ways to provide environmentally friendly alternatives to energy, Legend’s feels it’s our mission to validate and advance on products we sell our customers.”
One of Legends new undertakings is overall transparency to its shareholders; this can be demonstrated on our website under current projects - Letter of Intent. Visit: http://www.legendspower.com/current_projects.php
About Legends Business Group
Legends Business Group, Inc., was incorporated in March 2006, and is a publicly traded company. The company has recently refocused its purpose and has moved itself into the alternative and exotic energy marketplace. For more information please visit: http://www.legendspower.com
Safe Harbor Statement
This report includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for the fiscal year and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events. Factors that could cause the Company's results to differ materially from those expressed in forward-looking statements include, without limitation, variation in demand and acceptance of the Company's products and services, the frequency, magnitude and timing of paper and other raw-material-price changes, general business and economic conditions beyond the Company's control, timing of the completion and integration of acquisitions, the consequences of competitive factors in the marketplace, cost-containment strategies, and the Company's success in attracting and retaining key personnel. Additional information concerning factors that could cause actual results to differ materially from those projected is contained in the Company's filings. The Company undertakes no obligation to revise or update forward-looking statements as a result of new information since these statements may no longer be accurate or timely.
Contact:
Investor / Public Relations:
Rodolfo Sablon
Phone: 305-767-7993
Email: info@legendspower.com
Corporate:
Rodolfo Sablon
Phone: 305-767-7993
Email: info@legendspower.com
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
