Tenth Power Technologies Corp. announces the completion of its acquisition of White Hat Inc.

    TORONTO, Aug. 6 /CNW/ - Tenth Power Technologies Corp. (TSX-V:TPI) (the
"Company" or "Tenth Power"). Tenth Power is pleased to announce that further
to its press release of July 14, 2009, the Company completed its acquisition
of White Hat Inc. ("WHITEHAT") on July 31, 2009. The transaction involved the
payment of cash in the amount of $350,000 at closing with an earn-out of up to
an additional $350,000 in cash if certain performance targets are met, the
issuance of 300,000 common share purchase warrants (exercisable for two years
from the close of the transaction with an exercise price of $0.10 per common
share) and the issuance of 2,000,000 common shares of Tenth Power (1,000,000
issued on closing of the transaction and 500,000 to be issued on each of the
first and second anniversaries of the close of the transaction) to the
founders of WHITEHAT. The founders of WHITEHAT will remain with the Company in
key roles.


    Tenth Power Technologies Corp. is a technology and software solutions
provider dedicated to meeting the needs of its clients and partners through
technical innovation and reliable service. The Company utilizes technology
developed in house, in concert with leading edge licensed software, to enable
companies to resolve business collaboration, communication and workflow
process problems. The Company's products and services are currently being
delivered in the Government and manufacturing sectors and are being prepared
for the financial services and health care markets.


    White Hat Inc. is a premier Information Technology Security Provider
dedicated to leading the IT security industry and inspiring our customers to
employ "industry best practices". We are a trusted partner, committed to
superior customer service and delivering high value through exceptional
employees, partners and security technologies.

    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.
    %SEDAR: 00009136E

For further information:

For further information: Maureen Espin, Tenth Power Technologies Corp.,
Tel: (905) 948-9229 ext: 177

Organization Profile

Tenth Power Technologies Corp.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890