FSC / Press Release
Empower Technologies(tm) Update on Empower Defense Systems Inc.
Richmond, British Columbia CANADA, December 12, 2012 /FSC/ - Empower
Technologies Corporation (EPT - TSX Venture), ("Empower"), further to the
November 26, 2012 news release, announcing the creation of "Empower Defence
Systems Inc. ("EDS" or "the Company"), EDS reports it is expediting the
qualification process to meet the requirements of a major defence contractor
with whom the company has been in discussions. Upon qualification, the Company
will become an official vendor in the customer's supplier database to bid on
projects and to accept sale contracts, purchase orders and production.
EDS is also in the process of acquiring a manufacturing facility in St. John's,
NL to commence operations in January 2013. The Company is conducting interviews
with experienced defense industry veterans and technicians to fill the various
executive, engineering and manufacturing positions relating to the expected
sales and production.
Currently, Empower's management and its legal team are reviewing the value of
the assets excluding the customer list in Northstar Network Ltd. and Northstar
Electronics Inc. to determine whether it holds enough value for Empower to
offset the expected legal and court costs to exercise the General Security
Agreements ("GSA") on both defaulted entities.
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(tm)
Founded in 2000, Empower Technologies (TSX.V: EPT) is an innovative company that
brings the power and flexibility of the LEOs(r) (Linux Embedded Operating
System) to the dynamic embedded computing Industry and the emerging Intelligent
Appliance Market, through their development of Linux-based operating software
and 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(r), based on Texas
Instruments(tm) embedded CPU platform, that fulfill the needs and demands of
developers and the embedded computing Industry. Empower is continuing to
develop LEOs(r) and newer versions of embedded CPUs in line with Texas
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(r)", "LinuxDA(tm)", Linux-based embedded operating
systems, "BullsEye" and "Image Signal Correction", Video Imaging Technology,
"PowerPlay(tm)", smart consumer electronics.
Media Enquiries: firstname.lastname@example.org
or via Tel @ (604) 278-3100
Investor Relations: email@example.com
Investment Banker: Gordon Monk at Performance Capital firstname.lastname@example.org
Or via Tel @ (604) 630-2480 ext. 501
More Information on Empower Technologies:
or via Tel @ (604) 278-3100
Chairman, President and CEO
Empower Technologies Corporation
# 130-3751 Shell Road
Airport Executive Park
Richmond, BC, Canada V6X 2W2
The statements contained in this news release that are not historical facts are
forward looking statements, including without limitation, statements regarding
the timing and terms of the Company's anticipated completion of the acquisition
of Northstar Network Ltd. Such statements are based on management's estimates,
assumptions and projections using available information at the time of this news
release. The Company cautions that actual results could differ materially from
the current expectations due to a number of factors, including failure to
satisfy the conditions to closing within the time required and on terms
satisfactory to the parties. There is no assurance that the Company will
complete the transaction on the terms anticipated or at all.
Empower Technologies, LEOs, PowerPlay, LinuxDA and BullsEye are the trademarks
of Empower Technologies, Inc. All other brands are trademarks of their
To view this press release as a webpage, please click on the following link:
Source: Empower Technologies Corporation (TSX-V: EPT)
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-0- Dec/12/2012 21:45 GMT
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