April 4, 2013 – Richmond, British Columbia, Canada – Empower Technologies Corporation (TSX.V: EPT) (“Empower”) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Private Placement”) of 4,330,000 units of the Company (“Units”) for aggregate gross proceeds of $216,500. Each Unit consists of a common share of the Company and one-half of a common share purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant entitles the holder to acquire an additional common share of the Company for a period of 12 months from the date of issue at a price of $0.10 per share.
The common shares, together with the shares issued on the exercise of the Warrants, will be restricted from trading for a period of four months from the date of issuance of the Units, being August 2, 2013, in compliance with TSX Venture Exchange policies and securities legislation.
The proceeds from the Private Placement will be used to finance the ramping up of the operations and purchase order(s) of the newly formed wholly-owned subsidiary Empower Defense Systems Inc. (“EDS”) and for general working capital purposes.
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) has transformed from an embedded technology company to a full-fledged innovative technology, products and services and manufacturing enterprise. Empower Technologies as a group caters to security and surveillance, military, automotive and transportation, healthcare, industrial control and consumer electronics industries. Under the Empower Group, the Company has three operating divisions – Empower Embedded Engineering, Empower Imaging Laboratories and Empower Defense Systems. For more information, please visit www.empowertechnologies.com.
Empower’s brands are “LEOs®”, Linux-based embedded operating systems, “BullsEye”, Real-Time Video Stabilizer, “PowerPlay™”, smart consumer electronics.
More Information on Empower Technologies: www.empowertechnologies.com
Chairman, President and CEO
Empower Technologies Corporation
# 130-3751 Shell Road
Airport Executive Park
Richmond, BC, Canada V6X 2W2
The statements contained in this news release that are not historical facts are forward looking statements, including without limitation, statements regarding the timing and terms of the Company’s anticipated completion of the acquisition of Northstar Network Ltd. Such statements are based on management’s estimates, assumptions and projections using available information at the time of this news release. The Company cautions that actual results could differ materially from the current expectations due to a number of factors, including failure to satisfy the conditions to closing within the time required and on terms satisfactory to the parties. There is no assurance that the Company will complete the transaction on the terms anticipated or at all.
Empower Technologies, LEOs, PowerPlay, LinuxDA and BullsEye are the trademarks of Empower Technologies, Inc. All other brands are trademarks of their respective owners.