By Devika Patel
Knoxville, Tenn., Nov. 12 - Empower Technologies Corp. said it plans a C$3 million private placement of 12% convertible debentures due Dec. 31, 2011. Canaccord Capital Corp. is the agent.
The debentures are convertible into common shares at C$0.50 per share.
Proceeds will be used for the company's planned acquisition of Pixon Imaging LLC and for sales and marketing of Empower's products and general working capital.
Based in Richmond, B.C., Empower is a developer and provider of Linux-based embedded operating software, development platforms and system technologies for the embedded computing industry.
| Issuer: | Empower Technologies Corp.
|
| Issue: | Convertible debentures
|
| Amount: | C$3 million
|
| Maturity: | Dec. 31, 2011
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Conversion price: | C$0.50
|
| Warrants: | No
|
| Agent: | Canaccord Capital Corp.
|
| Pricing date: | Nov. 12
|
| Stock symbol: | TSX Venture: EPT
|
| Stock price: | C$0.21 at close Nov. 12
|
| Market capitalization: | C$8.35 million
|
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