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Empower Technologies Corporation Company Update
Richmond, BC – March 15, 2004 – Empower Technologies Corporation ("Empower") is pleased to provide an update of current business activities.
Empower's Board of Directors welcomes Steve Mathiesen, a partner with Lang Michener and lawyer for Empower as its Secretary, replacing Amy Chan. Mr. Mathiesen has been with Lang Michener since 2000 and prior to that was with Goldman Mathiesen Lakhani from 1979 to 2000. Ms. Chan will continue in her duties as Director and CFO of the company.
In August 2003, Empower signed a Joint Development Agreement with Audio Products International to jointly develop a new consumer audio appliance using API's Omnipolar speaker technology and Empower's LinuxDA Embedded Operating System technology. Since then work has begun and currently plans are underway for the development of the hardware and the operating and application software.
On September 19, 2003 Empower successfully closed their Initial Public Offering and began trading on the TSX Venture Exchange under the symbols EPT and EPT.WT on September 23, 2003.
In September 2003 a Supply Agreement was signed with Finite Technology, Inc. for PowerPlay handheld computer units for use as the main processing unit for secured card payments in taxicabs. In October 2003 Empower began shipping PowerPlay units to Finite Technology for use in their EasyCredit™ real time Point Of Sales card payment system by taxi drivers in Chicago. The system was demonstrated at the TLPA's 85th annual Trade and Convention Show in Reno, Nevada in October 2003 with participation by Empower's President and CEO, Mr. Paul Leung.
Empower launched PowerPlay Vs, an MP3 player with voice recording and scheduling capabilities, in a hot new colour for exclusive retail in Canada's Best Buy and Future Shop stores in November of 2003. In January, Empower announced the reorder of its PowerPlay Vs with Canada's Best Buy and Future Shop stores in Canada. This is significant in establishing the Linux DA Operating System and PowerPlay as national brands through a major national retailer in Canada.
In December, Empower retained the services of Renmark Financial Communications of Montreal to handle its investor relations. Through roadshows, investor forums and investment community relations Renmark will establish a liaison between the company and its retail investors and increase the company's visibility in the market place.
At the same time, Empower continues to promote the sales and manufacturing of its own PowerPlay branded consumer electronic products as well as develop new products for retail and on-line customers.
Empower's main objective is still licensing its LinuxDA Operating System and application software to consumer electronics developers and manufacturers.
About Empower Technologies
Founded in 2000, Empower (TSX.V:EPT) is an innovative company that introduced to the world Linux DA O/S, the first and only complete Palm® Handheld compatible Linux Operating System scaled down for the Motorola Dragonball CPU platform. Empower is committed to being the leading provider of Linux-based embedded system technologies and solutions for consumer electronics manufacturers.
Empower’s brands are “LinuxDA” (www.linuxda.com) a Linux-based embedded operating system and “PowerPlay” (www.powerplaydevices.com) smart consumer electronics.
Contact Information:
Media Enquiries:
Paul Leung - Chairman, President and CEO: pcleung@empowertechnologies.com
or via Tel @ (604) 278-3100
Investor Relation:
David Flynn - Principal: dflynn787@rogers.com or via Tel @ (416) 346-7725
More Information on Empower Technologies: www.empowertechnologies.com
LEOs ® Sales Enquiries:
sales@empowertechnologies.com or via Telephone @ 604-278-3100
Paul Leung
Chairman, President and CEO
Empower Technologies Corporation
The statements contained in this news release that are not historical facts are forward looking statements. Such statements are based on management's estimates, assumptions and projections using available information. The company cautions that actual financial results could differ materially from the current expectations due to a number of factors.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.
LEOs , PowerPlay and LinuxDA are the trademarks of Empower Technologies, Inc. All other brands are trademarks of their respective owners. |
