July 27, 2012 – Richmond, British Columbia, Canada – Empower Technologies Corporation (TSX.V: EPT) (“Empower”) announces, further to the Northstar Network Ltd. (NNL) purchase (the “Purchase”) update on July 11, 2012, Empower and Northstar Electronics, Inc. (OTCBB: NEIK) (“Northstar Electronics”), the parent of Northstar Network Ltd., have signed a Letter of Extension to extend the completion date of the definitive purchase agreement from July 27, 2012 to August 20, 2012.
Empower has submitted the application to TSX Venture Exchange (the “Exchange”) on May 25, 2012 for the approval of the NNL Purchase. During the period, the Company has been in correspondence with the Exchange and is working diligently to gather all the information seeks by the Exchange for the approval of the transaction. Both Empower and Northstar Electronics are committed to work together to meet every Exchange approval requirement in the most efficient and diligent manner. The Closing of the transaction is subject to Empower receiving TSX Venture Exchange approval. However, there is no assurance that Empower Technologies will receive the approval from TSX Venture Exchange to purchase 100% of Northstar Network Ltd. from Northstar Electronics, the parent.
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.
About Empower Technologies™
Founded in 2000, Empower Technologies (TSX.V: EPT) is an innovative company that brings the power and flexibility of the LEOs® (Linux Embedded Operating System) to the dynamic embedded computing Industry and the emerging Intelligent Appliance Market, through their development of Linux-based operating software, embedded system technologies and solutions.
The products and services that form the base of its business activities include an embedded system development platform for LEOs®, based on Texas Instruments™ embedded CPU platform, that fulfill the needs and demands of developers and the embedded computing Industry. Empower is continuing to develop LEOs® and newer versions of embedded CPUs in line with Texas Instruments™.
By uniting top professionals from within the computer industry and developing quality partnerships and strategic alliances, Empower is committed to being the leading developer of Linux-based operating software and embedded system technologies and solutions for electronics manufacturers and developers.
Empower’s brands are “LEOs®”, “LinuxDA™”, Linux-based embedded operating systems, “BullsEye” Video Imaging Technology, “PowerPlay™”, smart consumer electronics.