Non-brokered deal funds sales and marketing, general working capital
By Devika Patel
Knoxville, Tenn., July 2 - Empower Technologies Corp. said it will conduct a C$1.2 million non-brokered private placement of units.
The company will sell 12 million units of one common share and one half-share warrant at C$0.10 per unit, with each whole warrant exercisable at C$0.15 for one year. The strike price is a 50% premium to C$0.10, the July 1 closing share price.
Proceeds will be used for sales and marketing of products and services 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: | Units of one common share and one half-share warrant
|
| Amount: | C$1.2 million
|
| Units: | 12 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | July 2
|
| Stock symbol: | TSX Venture: EPT
|
| Stock price: | C$0.10 at close July 1
|
| Market capitalization: | C$6.11 million
|
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