Empower Technologies™ Announces Brokered Offering of
12% Convertible Debentures
November 12, 2009 – Richmond, British Columbia, Canada – Empower Technologies Corporation (TSX.V: EPT) (Empower) announces that it is proceeding with a brokered private placement of unsecured convertible debentures (“Debentures”) of up to $3 million (the “Offering”), subject to regulatory approval. Proceeds of the Offering will be used for the proposed acquisition of Pixon Imaging LLC, and for continued sales and marketing of Empower's products and general working capital.
The Debentures will bear interest at the rate of 12% per annum payable semi-annually and are due December 31, 2011. The Debentures are convertible into common shares of Empower at a conversion price of $0.50 per share, subject to earlier automatic conversion under certain conditions.
The sole agent for the Offering will be Canaccord Capital Corporation.
This brokered Offering is in addition to Empower's non-brokered private placement of 12% unsecured convertible debentures announced in the news release of October 22, 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® (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.