Cube Psytech Holdings Inc. T.P

Financing: Just As WE Thought!

[musing]

Well, we were speculating about where the money would come from to build the large fleet of demonstration units. Now we know. Its a best efforts financing but it does appear that there fair confidence of success. Notice the closing date is November 19th. That's less than two weeks away. RailPower Technologies Corp. Quick Quote: P 1.85 (+0.05) RailPower announces $12.25 million financing 11/6/03 VANCOUVER, Nov 06, 2003 (Canada NewsWire via COMTEX) -- RailPower Technologies Corp., (TSX-V: P), a leader in specialized energy technology systems, announced today that it intends to raise C$12,248,160 by way of private placement, subject to regulatory approval. This private placement is being co-led by National Ba nk Financial Inc. ('NBF') and Paradigm Capital Inc. ('Paradigm') on a best efforts basis. The private placement will be structured as an issuance of Common Shares. Under the terms of the proposed private placement, RailPower plans to issue 7,204,800 Common Shares at a price of C$1.70 per share. These Common Shares will be subject to a four-month hold period. It is anticipated that the closing of the private placement will occur on or about November 19, 2003. 'The proceeds of this financing, together with the $1.5 million funding previously announced from Sustainable Development Technology Canada, will enable us to build nine additional demonstration locomotives to convert growing expressions of interest into firm orders,'said Jim Maier, RailPower President and CEO. 'We will also be able to design and build new locomotives, based on our core hybrid design, requested by certain of our major potential customers and to expand RailPower's product lines into the large transit / light rail markets.' About RailPower RailPower Technologies Corp. (www.railpower.com) is a leader in specialized energy technology systems for transportation and power generation. In addition to its patented locomotive technologies, it has a patent pending in respect of its rDirect power conditioning technology for distributed and remote power generation technologies. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: https://www.newswire.ca/cgi-bin/inquiry.cgi?OKEY=98507 For further information: Simon Clarke, Executive Vice President,Corporate Development, RailPower Technologies Corp., [phone] ext.206phone, [phone] fax, e-mail: sclarke(at)railpower.com; Jay Hussey,Investor Relations, The Equicom Group Inc., [phone] ext. 225 phone,[phone] fax, e-mail: jhussey(at)equicomgroup.com News release via Canada NewsWire, Vancouver 604-669-7764 Copyright (C) 2003 CNW, All rights reserved © 2003 StockHouse.com | Disclaimer P Releases RailPower announces $12.25 million financing RailPower releases fiscal 2003 year end financial results $1.5 million sustainable development technology funding as RailPower announces hybrid demo fleet build with ALSTOM and CANAC $1.5 Million Sustainable Development Technology Funding As Chevron El Segundo Refinery to Test 'Green Kid'Hybrid Locomotive SHfn SH @ the Bell : Stocks Finish Mostly Flat Harry Boxer's Technical Trading Diary: Down but Not Too Severe SH @ the Bell : Stocks Finish Mixed Harry Boxer's Technical Trading Diary: New Annual Highs SH @ the Bell : Stocks Start November With a Win