December 4, 2014 – Vancouver, British Columbia, Canada – Empower Technologies Corporation (TSX.V: EPT)(“Empower”) announces the signing of a Loan Agreement the Company entered onDecember 3, 2014 with the non-arm’s length Directors and Officers of the Company (the “Lender”) in the amount of $200,000 (the “Loan”).
The Loan will be secured by a general security interest granted by Empower at an interest rate of 12.95% per annum, and will be repayable on or before December 31, 2015 subject to certain terms and conditions. Early retirement of the Loan will have a three (3) months interest penalty on the principal amount repaid. The Loan will be mainly used as general working capital for Empower and additional working capital for Empower’s operating subsidiaries to launch new triple play service and to acquire new and existing subscribers.
In connection with the loan, Empower will issue, at no additional consideration and subject to Empower receiving the prior approval of the TSX Venture Exchange, 800,000 common shares in the capital of Empower (the “Shares”). The Shares shall be duly issued to the Lender effective as the Borrower received TSX Venture Exchange Inc. approval of the Shares and the Loan is available to the Borrower.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the expected benefits of the acquisition of AIC are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Empower’s expectations include actual sales results, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, and other risks detailed herein and from time to time in the filings made by Empower with securities regulators. Although Empower has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date of this news release. Empower disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Empower Technologies™
Founded in 2000, Empower Technologies Corporation (TSX.V: EPT) is the holding company for its two wholly-owned subsidiaries: Empower Technologies, Inc. and AIC Global Communications Inc. Empower Technologies (Canada) Inc. is a subsidiary of Empower Technologies, Inc. Empower Technologies and its subsidiaries have transformed from an embedded technology group of companies to a full-fledged innovative technology, products and services and manufacturing enterprise. Empower Technologies as a group caters to communication, VoIP service, TV and media, IT, security and surveillance, military, automotive and transportation, healthcare, industrial control and consumer electronics industries. For more information, please visit www.empowertechnologies.com.
Empower Technologies group of companies’ brands are “AIC”, “LEOs®”, Linux-based embedded operating systems, “BullsEye”, Real-Time Video Stabilizer, “PowerPlay™”, smart consumer electronics.
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More Information on Empower Technologies: www.empowertechnologies.com
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Chairman, President and CEO
Empower Technologies Corporation
Suite 951 – 409 Granville Street
Vancouver, BC, Canada V6C 1T2
Empower Technologies, LEOs, PowerPlay and BullsEye are the trademarks of Empower Technologies, Inc. AIC is the trademarks of AIC Global Communications Inc. All other brands are trademarks of their respective owners.