Tenth Power Technologies Corp. completes a $694,000 private placement.

TORONTO, Nov. 2 /CNW/ - Tenth Power Technologies Corp. (TSX-V:TPI) (the "Company" or "Tenth Power"). Tenth Power is pleased to announce that it has completed a private placement and has raised gross proceeds of $694,000.

Specifically, Tenth Power issued 4,626,668 units ("Units") priced at $0.15 per Unit. Each Unit consists of one common share and 1/2 of one common share purchase warrant ("Warrant"). Each Warrant is exercisable at $0.20 for 12 months. The securities bear a legend restricting their resale until March 1, 2010. No commissions were paid in relation to this private placement. Proceeds of the financing will be used for general corporate purposes.

As a result of the closing of the above noted transaction, WINCO Corporation ("Winco") acquired ownership of 1,166,667 Units consisting of 1,166,667 common shares and 583,334 Warrants of Tenth Power. As a result of this transaction, Guy Burry ("Burry"), a director of Tenth Power (and Winco), now owns, directly and indirectly, or controls, 2,910,534 common shares representing 19.88% of the issued capital of Tenth Power. On a fully-diluted basis, Burry owns or controls 3,841,982 common shares assuming the exercise of all warrants and conversion of a $100,000 debenture of Tenth Power held by Burry, representing 26.24% of the issued and outstanding common shares of the Company assuming that no further common shares of the Company have been issued and no further exercise of any convertible securities by other securityholders. Burry acquired the 1,166,667 Units for investment purposes only. Depending on market indications, Burry may from time to time in the future increase or decrease his ownership, control or direction, or exercise his right to acquire, additional common shares or other securities of Tenth Power through market transactions, private agreements or otherwise. Winco has undertaken not to exercise its convertible securities which would have the effect of increasing its common share ownership in the Company to a position above 20% until such time as it has received disinterested shareholder approval at the Company's next shareholders meeting.

As a further result of the closing of the above noted transaction, Dennis Bernhard acquired ownership of 166,667 Units consisting of 166,667 common shares and 83,334 Warrants of Tenth Power. As a result of this transaction, Mr. Bernhard, a director of Tenth Power, now owns, directly and indirectly, or controls, 1,223,136 common shares representing 8.35% of the issued capital of Tenth Power. On a fully-diluted basis, Mr. Bernhard owns or controls 1,785,041 common shares assuming the exercise of all warrants and conversion of a $80,000 debenture of Tenth Power held by Mr. Bernhard, representing 12.19% of the issued and outstanding common shares of the Company assuming that no further common shares of the Company have been issued and no further exercise of any convertible securities by other securityholders. Mr. Bernhard acquired the 166,667 Units for investment purposes only. Depending on market indications, Mr. Bernhard may from time to time in the future increase or decrease his ownership, control or direction, or exercise his right to acquire, additional common shares or other securities of Tenth Power through market transactions, private agreements or otherwise.

Furthermore, Griggs Associates Inc. ("Griggs") acquired ownership of 1,333,333 Units consisting of 1,333,333 common shares and 666,667 Warrants of Tenth Power. As a result of this transaction, Griggs now owns, directly and indirectly, or controls, 1,333,333 common shares representing 9.11% of the issued capital of Tenth Power. On a fully-diluted basis, Griggs owns or controls 2,200,000 common shares assuming the exercise of all warrants and conversion of a $150,000 debenture of Tenth Power held by Griggs, representing 15.03% of the issued and outstanding common shares of the Company assuming that no further common shares of the Company have been issued and no further exercise of any convertible securities by other securityholders. Griggs acquired the 1,333,333 Units for investment purposes only. Depending on market indications, Griggs may from time to time in the future increase or decrease its ownership, control or direction, or exercise its right to acquire, additional common shares or other securities of Tenth Power through market transactions, private agreements or otherwise.

Lastly, Quig Holdings ("Quig") acquired ownership of 466,667 Units consisting of 466,667 common shares and 233,334 Warrants of Tenth Power. As a result of this transaction, Quig now owns, directly and indirectly, or controls, 966,667 common shares representing 6.60% of the issued capital of Tenth Power. On a fully-diluted basis, Quig owns or controls 1,619,051 common shares assuming the exercise of all warrants and conversion of two $100,000 debenture of Tenth Power held by Quig, representing 11.06% of the issued and outstanding common shares of the Company assuming that no further common shares of the Company have been issued and no further exercise of any convertible securities by other securityholders. Quig acquired the 466,667 Units for investment purposes only. Depending on market indications, Quig may from time to time in the future increase or decrease its ownership, control or direction, or exercise its right to acquire, additional common shares or other securities of Tenth Power through market transactions, private agreements or otherwise.

ABOUT TENTH POWER TECHNOLOGIES CORP.

Tenth Power is a Canadian based technology and solutions company. The Company provides bio identity technology, work flow and resource management platforms, secure information transfer technology and innovative product development in integration services. 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.

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.

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SOURCE Tenth Power Technologies Corp.

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

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