Ocean Power (PWRE): Water/Power Giant in the making! Message Board

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Technology Stocks : Ocean Power (PWRE): Water/Power Giant in the making!

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To: gene martineau who wrote ()	2/7/2000 10:18:00 PM
From: gene martineau	Read Replies (1) of 269

OCEAN POWER RAISES $3.7 MILLION—FORM 10 FILED El Dorado Hills, CA, February 7, 2000 Ocean Power Corporation (OTC-BB Symbol: PWRE) is pleased to announce the filing of its Form 10-SB with the Securities and Exchange Commission as the next step in its path towards becoming a fully-reporting Company. Additionally, the Company has secured sufficient financing to meet the financial requirements for such listing. This was done through a Private Placement of the Company's common shares in the amount of $6,000,000 of which $3,775,092 has been received, and the company anticipates the balance being received in the next few weeks. In addition, the offering includes warrants that are exercisable for shares averaged at $3,000,000 over the next three years. “With these steps the Company plans to apply for full NASDAQ listing as soon as it meets the relevant requirements” said Joseph P. Maceda, President. Contact: Joseph P. Maceda, 916-933-8100

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