TORONTO, Aug. 16 /CNW/ - Tenth Power Technologies Corp. (TSX-V:TPI) (the "Company" or "Tenth Power") announces that upon receipt of regulatory and shareholder approval it has issued a total of 2,022,957 common shares at a deemed value of $0.15 per share to settle debts of $303,443.44 as detailed in a release issued May 12, 2010. All securities issued in connection with the settlement are subject to a resale restriction for a period of four months from the date of issue. The hold period on those securities issued to non arms-length creditors will expire November 30, 2010.
ABOUT TENTH POWER TECHNOLOGIES CORP.
Tenth Power Technologies Corporation is a Canadian based technology and solutions company. Tenth Power supplies secure business solutions to clients in the telecommunications, financial services, manufacturing, government and health care sectors. TPTC augments proprietary software with product licensing and strategic acquisition of industry-leading services, to design solutions that safeguard information and electronic communications. The suite of products includes identity and signature validation, internet security, safe communication platforms and a secured collaboration environment. TPTC also provides IT security consulting and managed services. The corporate office is located in Toronto, Canada.
The current issued and outstanding common shares of Tenth Power are 17,243,628.
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.
SOURCE Tenth Power Technologies Corp.
For further information: For further information: Maureen Espin, Tenth Power Technologies Corp., Tel: (905) 948-9229 ext: 177