NewsEmpower Technologies closes $737,562 offering
Ticker Symbol: C:EPT
Empower Technologies closes $737,562 offering
Empower Technologies Corp (C:EPT)
Shares Issued 39,768,254
Last Close 7/8/2009 $0.20
Thursday July 09 2009 - News Release
Mr. Paul Leung reports
EMPOWER TECHNOLOGIES ANNOUNCES CLOSING OF SHORT FORM OFFERING
Empower Technologies Corp. has completed its short-form offering. The Offering was approved by the TSX Venture Exchange on May 12, 2009. A total of 2,950,250 units (the "Units") were issued at $0.25 to raise total gross proceeds of $737,562.50. Each Unit consists of one share and one common share purchase warrant. Each non-transferable warrant is exercisable into one common share for a period of two years at an exercise price of $0.30 per share. The proceeds of the Offering will be used primarily to finance continued product development and marketing and sales expenses and for general working capital.
Canaccord Capital Corporation as agent for the Offering (the "Agent"), received an 8% cash commission and Agent's warrants equal to 15% of the Offering sold, with each Agent's warrant exercisable for a unit for a period of two years at $0.25. The Agent also received a corporate finance fee of 250,000 units, having the same terms as the Units offered, an administration fee and a fiscal advisory services fee.
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