2013-02-19 15:07:59 -
Richmond, British Columbia and St. John's, NL, Canada, February 19, 2013 /FSC/ - Empower Technologies Corporation: www.empowertechnologies.com/(EPT - TSX Venture)("Empower" or the "Company") is pleased to announce an update on its wholly-owned subsidiary - Empower Defense Systems Inc. ("EDS" or the "Subsidiary") regarding the latest developments in business and operations.
EDS has leased a facility in St. John's, NL and has taken immediate possession. Initially, EDS occupies 5,600 sf of space, 1,600 sf is office space and 4,000 sf is dedicated to production and warehouse. EDS has also committed to an additional 4,000 sf of production space to meet a planned expansion plan effective October 1, 2013. A total of 8,000 sf of production and warehouse area will be
available to EDS to fully utilize by its operation team by the end of 2013.
EDS has retained the services of two seasoned veteran senior defense industry executives under the leadership of Mr. Paul Leung, the President and CEO of Empower Group:
Mr. Stewart Gibson will serve as Vice President and General Manager. Previously, he was the Vice President and General Manager of Northstar Network Ltd. He served for 21 years in the Military Engineering Branch of Canadian Armed Forces and held various positions at a number of major corporations. Mr. Gibson has extensive experience in Configuration Management and, Aerospace, and Military system supply chain development, production and integration. He has also served in key management positions on major Military and Aerospace projects and has experience working with foreign military organizations. He is responsible for EDS's financial well-being, its business development, sales, marketing and administration.
Mr. Jeff Fry, P. Eng., will serve as Vice President and Operations Manager. Mr. Fry is responsible for the engineering, supply chain, production, logistics and inventory. Previously, he was the Vice President and Operations & Engineering Manager of Northstar Network Ltd. Mr. Fry brings substantial engineering and project management experience in Product/Systems Development and Production for Marine, Space and Aerospace applications.
EDS had commenced operation prior to the leasing of space by operating at a customer's facility. With the confirmation of the space, EDS is very relieved as it is just in time for the work the Subsidiary has lined up for this month. EDS has already billed its customer for the earlier work it has completed.
"I am very pleased with the huge progress Empower Defense Systems has made in such a challengingly short time. I am especially appreciative and proud of the team that we have assembled in St. John's, NL. They have simultaneously accomplished multiple, and at many times conflicting, tasks and objectives. Due to their professionalism and dedication it is my privilege to announce Empower Defense Systems is now a fully functional and well-staffed operation in St. John's, NL to serve our very valued defense customers." Said Mr. Paul Leung, CEO of Empower Group.
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.
This news release includes forward-looking information within the meaning of applicable securities laws. All statements included in this news release that are not historical facts are forward looking statements, including statements regarding management's plans for the Company's business and anticipated future performance of the Company. Such statements are based on management's current estimates, assumptions and projections using available information. These statements are not guarantees of the Company's future performance and are subject to risk uncertainties and other important factors, which could cause the Company's actual performance to be different from that projected. Factors that could cause actual results to differ materially from these forward- looking statements include those risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About Empower Technologies(tm)
Founded in 2000, Empower Technologies (TSX.V: EPT) has transformed from an embedded technology company to a full-fledged innovative technology, products and services and manufacturing enterprise. Empower Technologies as a group caters to security and surveillance, military, automotive and transportation, healthcare, industrial control and consumer electronics industries. Under the Empower Group, the Company has three operating divisions - Empower Embedded Engineering, Empower Imaging Laboratories and Empower Defense Systems. For more information, please visit www.empowertechnologies.com.
Empower's brands are "LEOs(r)", Linux-based embedded operating systems, "BullsEye", Real-Time Video Stabilizer, "PowerPlay(tm)", smart consumer electronics.
About Empower Defense Systems
Established in December 2012, Empower Defense Systems Inc., a wholly-owned subsidiary of Empower Technologies Corporation, is a full service defense contractor that provides system integration, design, development, engineering, installation, maintenance and manufacturing services. Through other divisions in the Empower Group - "Empower Embedded Engineering" and "Empower Imaging Labs", Empower Defense Systems can also provide full turnkey computer software, hardware and control electronics design and development and advance imaging technologies, products and services.
Empower Defense Systems target customers are large aerospace, marine, land base and homeland security defense suppliers/contractors, militaries and governments.
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Chairman, President and CEO
Empower Technologies Corporation
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Richmond, BC, Canada V6X 2W2
Empower Technologies, LEOs, PowerPlay and BullsEye are the trademarks of Empower Technologies, Inc. All other brands are trademarks of their respective owners.
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Source: Empower Technologies Corporation (TSX-V: EPT) www.empowertechnologies.com
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