Empower Technologies Corporation Announces Closing of Short Form Offering July 09, 2009 – Richmond, British Columbia, Canada – Empower Technologies Corporation (TSX.V: EPT) (Empower) is pleased to announce the completion of its Short Form Offering (the “Offering”). The Offering was approved by the TSX Venture Exchange on May 12, 2009. A total of 2,950,250 units (the “Units”) were issued at $0.25 to raise total gross proceeds of $737,562.50. Each Unit consists of one share and one common share purchase warrant. Each non-transferable warrant is exercisable into one common share for a period of two years at an exercise price of $0.30 per share. The proceeds of the Offering will be used primarily to finance continued product development and marketing and sales expenses and for general working capital. Canaccord Capital Corporation as agent for the Offering (the “Agent”), received an 8% cash commission and Agent's warrants equal to 15% of the Offering sold, with each Agent's warrant exercisable for a unit for a period of two years at $0.25. The Agent also received a corporate finance fee of 250,000 units, having the same terms as the Units offered, an administration fee and a fiscal advisory services fee.
About Empower Technologies™ Founded in 2000, Empower Technologies (TSX.V: EPT) is an innovative company that brings the power and flexibility of the LEOs® (Linux 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.
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