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Empower Technologies Corporation Announces
Exercising of Warrants Expiring September 19, 2004
Richmond, British Columbia – October 4, 2004 – Empower Technologies Corporation ("Empower") is pleased to announce that as of the end of the eligible period of September 19, 2004 – 4,870,252 (all but 4,000) of the 4,874,252 warrants issued and all 974,850 of the 974,850 Agent's Warrants issued in the Initial Public Offering ("IPO") were exercised. This resulted in the issuance of 5,845,102 common shares and proceeds of $2,630,296 to the company.
Empower had issued 4,874,252 warrants and 974,850 Agent's Warrants, each warrant entitling the owner to purchase one Common Share at $0.45, as part of its IPO in September of 2003.
About Empower Technologies
Founded in 2000, Empower Technologies is a provider of Linux-based embedded system technologies and solutions for the consumer electronics industry and the intelligent appliance market.
Empower is an innovative company that introduced to the world LinuxDA O/S, the first and only complete Palm® Handheld compatible Linux Operating System scaled down for the Motorola
Dragonball CPU platform. By uniting top professionals from within the computer industry and developing quality partnerships and strategic alliances, 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. |
