TERREBONNE, QC, June 25 /CNW Telbec/ - Carol Murray, President and Chief
Executive Officer of Power Tech Corporation Inc. ("Power Tech" or the
"Company") (TSX-V: PWB) announces its intents to complete a non-brokered
private placement financing, for a maximum of 5,000,000 units for a total
amount of $500,000 (the "Placement"). Each unit is comprised of one common
share of Power Tech at a price of $0.10 and one half warrant. Each whole
warrant entitles the holder to acquire one share of Power Tech, at a price of
$ 0.20 per share for a period of 12 months following the closing date. The
units issued under the Placement will be subject to a restricted period on
resale for four months and one day. The proceeds of the Placement will be used
as working capital of the Company. This Placement is subject to the approval
of the regulatory authorities.
About Power Tech (www.powertechci.com)
Power Tech is the only company in the world that manufactures and
commercializes percussion technology with interchangeable tools and
accessories for the construction, demolition and military industries.
Power Tech's percussion technology is a technological breakthrough that
combines the power of a hydraulic hammer with the stripping force and
manoeuvrability of a conventional bucket. Power Tech's products are marketed
under the PicBucket (R) and PicHammer (R) names as well as under world
renowned private label brands thru OEM agreements with large manufacturers.
The trademarks PicBuckets (R), PicHammer (R) and the Power Tech logo are
registered trademarks of Power Tech Canada Inc.
Certain statements included herein, including those that express
management's expectations or estimates of the future performance of the
Company, constitute "forward-looking statements" within the meaning of
applicable securities laws. Forward-looking statements are necessarily based
upon a number of estimates and assumptions that, while considered reasonable
by management at this time, are inherently subject to significant business,
economic and competitive uncertainties and contingencies. Investors are
cautioned not to put undue reliance on forward-looking statements. We disclaim
any intent or obligation to update publicly these forward-looking statements,
whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange
Inc.) accepts responsibility for the adequacy or accuracy of this
For further information:
For further information: Carol Murray, President and Chief Executive
Officer, Power Tech Corporation Inc., (450) 963-6400, Fax: (450) 963-4411,
firstname.lastname@example.org; Investor Relations: Marc Jasmin, President,
Jasmin Financial Communications Inc., (450) 963-6400 ext: 202, Cell: (514)