Empower Technologies™ Announces a Non-Brokered Private Placement
of Units to Raise Up to $150,000
May 14, 2012 – Richmond, British Columbia, Canada – Empower Technologies Corporation (TSX.V: EPT) ("Empower") announces, that it is proceeding with a non-brokered private placement of units (the “Offering”) to raise up to $150,000. The Offering is not subject to any minimum and is to be of up to 1,500,000 units (the “Units”) at $0.10 per Unit, with each Unit consisting of one share and one half warrant. Each whole warrant is exercisable into one common share for a period of one year at $0.15 per share. The warrants will be non-transferable. The proceeds of the Offering will be used to finance the purchase of Northstar Network Ltd. (“NNL”) from its parent Northstar Electronics Inc. (“Northstar”) and for general working capital.
The Offering is subject to acceptance by TSX Venture Exchange.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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, “BullsEye” Video Imaging Technology, “PowerPlay™”, smart consumer electronics.