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Empower Technologies™
Extension of Warrants and New Sales Outlook
Richmond, British Columbia – February 12, 2008 - Empower Technologies Corporation (“Empower”) (TSX.V: EPT) is pleased to announce that it proposes to extend the expiry date of its common share purchase warrants issued on February 20, 2007, and February 27, 2007, (the “Warrants”) and scheduled to expire on February 20, 2008, and February 27, 2008, for an additional nine (9) months. The amended exercise expiry date of the Warrants will now be the close of business on November 20, 2008 and November 27, 2008 (5:00 p.m. PST). The exercise price for the Warrants remains at $0.90 per common share. The total number of Warrants issued pursuant to the private placement of February 2007 was 895,000 (exclusive of agents' warrants), and no Warrants were exercised prior to the extension of the expiry date.
The extension of the expiry date of the Warrants is subject to the approval of the TSX Venture Exchange.
In other news, Empower is pleased to announce that their North American Sales force of manufacturers representatives has been completed with the signing of Maxima Consulting which covers all of Canada . There are now a total of eight manufacturers representatives covering the entire North American continent. Internationally, Empower has signed four regional resellers to cover Mainland China and Taiwan , Korea , and India . The Company plans to add more resellers and distributors internationally as well as expand the sales network into Europe and South America .
Empower President and CEO Paul Leung stated “We are especially pleased that we have premier representatives in the embedded computer market representing us in their territories” and added that “most of these companies have at least 15 years of successful technical OEM (Original Equipment Manufacturer) sales experience and are uniquely equipped for our market segment.”
Empower is also very pleased to announce that the EDK6446 development kit for Texas Instruments' DM644x DaVinci processors first made public on January 4 has already been shipped as of last week. EDK6446 full development kit and SBC644x are now available online at the Company's webstore or its resellers and distributors for immediate delivery.
With Arrow Electronics distributing the development kits, and the representatives penetrating their territories with the OEM computer modules, Empower is now positioned to be the undisputed leader in the portable/mobile industrial OEM computer market. The Company currently has sale representatives actively negotiating a number of business deals with several globally recognized clients.
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.
Contact Information:
Media Enquiries:
Paul Leung – Chairman, President and CEO: pcleung@empowertechnologies.com
or via Tel @ (604) 278-3100
Investor Relations:
Exponent Communications Inc.
Toll-free: (866) 914-5861
Tel: (778) 292-1174
Fax: (778) 292-1176
Email: info@exponentcommunications.com
More Information on Empower Technologies: www.empowertechnologies.com
Sales Enquiries: sales@empowertechnologies.com or via Tel @ (604) 278-3100
Paul Leung
Chairman, President and CEO
Empower Technologies Corporation
# 405-5600 Parkwood Way
Crestwood Commerce Centre
Richmond , BC , Canada V6V 2M2
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.
Empower Technologies, LEOs, PowerPlay and LinuxDA are the trademarks of Empower Technologies, Inc. All other brands are trademarks of their respective owners.
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