Empower Technologies Acquires Defense Contractor, Access to Customer Database

As previously announced in news releases dated November 9, 2011, December 1, 2011 and January 5, 2012, it appears that Empower Technologies Corp. (TSX-V:EPT) has officially signed a definitive share purchase agreement with Northstar Electronics Inc. to purchase 100% of its wholly owned subsidiary, Northstar Network Ltd. (NNL), for $1-million cash, three million warrants and assumption of NNL's liabilities, which will not exceed $3-million in the aggregate at closing.

Based in Newfoundland, NNL is a Canadian Defence, Aerospace, Marine and Homeland Security contractor with in-house electronic contract manufacturing, assembly, and system integration capabilities. More importantly for Empower is the fact that NNL has affiliate agreements in place with over twenty major international Defence and Aerospace Companies and several world-class educational institutions. This gives Empower instant access to the largest defense contracting customers in North America, as well as an established sales pipeline with revenue and cash flow in place.

The hope for Empower is to immediately strengthen and expand the advantages brought by NLL, and retains the right to continue calling the company Northstar Network. The combination of Empower's leading edge embedded system technologies and state of the art real time imaging technologies with this acquisition opens doors for Empower going forward. Gaining the sales database of NNL should get Empower past some industry gatekeepers in order to showcase its tech products and services to a very exclusive market with the financial capabilities to purchase and/or to design within said products.

"Empower is very excited to have signed the definitive shares purchase agreement with Northstar,” says Paul Leung, CEO of Empower Technologies. “This transaction will position Northstar and Empower on a firm footing to launch and grow in our respective businesses.”

Geoff Woade

VantageWire

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