Empower Technologies™ Announces Closing of a Non-Brokered Private Placement
of Units to Raise Up to $155,000
May 23, 2012 – Richmond, British Columbia, Canada – Empower Technologies Corporation (TSX.V: EPT) ("Empower") announces that it is proceeding to close a non-brokered private placement of units (the “Offering”) previously announced on May 10, 2012 for $150,000 to change to $155,000.
The private placement was closed for 1,550,000 Units (the "Offering") at a price of $0.10 per Unit for a total of $155,000. Each Unit consists of one common share and one half share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share (the "Additional Share") for a period of one year from the date of issue at a price equal to $0.15 per Additional Share.
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.