Empower Technologies Corporation Announces Offering of
10% Unsecured Convertible Debenture to Raise up to $500,000
November 10, 2008 – Richmond, BC, Canada – Empower Technologies (TSX.V: EPT) announces a non-brokered private placement of convertible debentures (the “Debentures”) for a maximum aggregate principal amount of $500,000 (the “Offering”). Proceeds of the Offering will be used for sales and marketing of Empower's embedded technologies, including its line of Single Board Computers (SBC), and for general working capital.
The Debentures will bear interest at 10% per annum payable semi-annually and have a term of one year. The Debentures will be convertible by the holder thereof into common shares of Empower at a conversion price of $0.40 per share.
Closing of the Offering remains subject to the acceptance of the TSX Venture Exchange.
About Empower Technologies™
Founded in 2000, Empower Technologies (TSX.V: EPT) is an innovative company that brings the power and flexibility of the LEOs® (LinuxDA™ 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 and “PowerPlay™”, smart consumer electronics.
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