TERREBONNE, QC, June 30 /CNW Telbec/ - Carol Murray, President and Chief
Executive Officer of PowerTech Corporation Inc. ("PowerTech") (TSX-V: PWB)
announces its intent to complete a non-brokered private placement financing,
for a maximum amount of 5,000,000 units for a total amount of $2,000,000 (the
"Placement"). Each unit is comprised of one common share at a price of $0.40
and one warrant. Each warrant can be exercised at a price of $0.50 for a
period of 24 months after the closing date. The closing of this private
placement is subject to the approval of the regulatory authorities.
"This new financing will enable PowerTech to pursue the implementation of
its business plan, specifically the roll-out of its private label OEM
agreements with world-class manufacturers and the potential signing of other
similar deals. This financing will also allow for the launch of our new series
5000 PicBucket(R), which will cater to the needs of one of the largest
identified end-markets", stated Mr. Carol Murray, President and Chief
Executive Officer of the Company.
About PowerTech (www.powertechci.com)
PowerTech 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.
PowerTech'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. Powertech'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 PicBucket(R), PicHammer(R) and the Powertech logo are
registered trademarks of Powertech Canada Inc.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
This press release contains information which re forward-looking
statements reflecting the company's expectations in regards to future events.
Actual events can be materially different from those expected in this press
For further information:
For further information: Mr. Carol Murray, President and Chief Executive
Officer, PowerTech Corporation Inc., (450) 963-6400 #101, Fax: (450) 963-4411,
firstname.lastname@example.org; Investor Relations: Mr. Marc Jasmin, President,
Jasmin Financial Communications Inc., (450) 963-6400 ext: 202, Cell: (514)
231-2360, email@example.com; Media Relations: Mr. Frédéric Tremblay,
HKDP, (514) 395-0375, ext. 234, firstname.lastname@example.org