Empower Technologies Corporation Announces Full Exercising of Warrants Expiring March 31, 2005
Richmond, British Columbia – April 18, 2005 – Empower Technologies Corporation (“The Company or Empower”) is pleased to announce that as of the end of the eligible period of March 31, 2005 – all of the 524,500 warrants issued and all of the 200,000 Agent's Warrants issued in the Short Form Offering of March 31, 2004 ("SFO") were exercised. This resulted in the issuance of 724,500 common shares and proceeds of $724,500 to the company.
Empower had issued 1,045,000 units which consisted of one share and one half warrant. Each whole warrant was exercisable into one common share at $1.00 a share. Empower had also issued 200,000 Agent's Warrants which entitled the Agent to purchase one Common Share at $1.00.
About Empower Technologies
Founded in 2000, Empower Technologies™ (TSX.V:EPT) is a Linux operating software developer for Linux-based embedded system technologies and solutions for the consumer electronics industry.
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. Empower recently developed a new embedded CPU platform for its LinuxDA Embedded O/S (LEOs™) based on Texas Instruments™ OMAP5910 dual core 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 developer of Linux-based operating software and embedded system technologies and solutions for consumer electronics manufacturers and developers.
Empower’s brands are “LinuxDA™” (www.linuxda.com) a Linux-based embedded operating system and “PowerPlay” (www.powerplaydevices.com) smart consumer electronics.
Empower Technologies
Contact Information:
Media Enquiries:
Paul Leung - Chairman, President and CEO: pcleung@empowertechnologies.com
or via Tel @ (604) 278-3100
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. |
