Empower Technologies Corporation Announces Closing of
First Tranche of Offering of 10% Unsecured Convertible Debenture
January 20, 2009 – Richmond, BC Canada – Empower Technologies (TSX.V: EPT) announced that further to its news release of November 10, 2008, it has closed the first tranche of its private placement of convertible debenture in the aggregate amount of $160,000.
The convertible debentures bearing interest at the rate of 10% per annum are convertible into common shares of Empower at $0.40 per share until January 31, 2010. Interest is payable semi-annually on July 31, 2009 and January 31, 2010. The convertible debentures and any shares issued upon conversion have a hold period expiring May 16, 2009.
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.