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Power Tech Corporation Inc. announces the closing of a first phase of a private placement of $268,000 and delivers its first bu

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^{Published in Business and Finance on Monday, July 6th 2009 at 8:32 GMT, Last Modified on 2009-07-06 08:32:16 by Market Wire}  

 TERREBONNE, QC, July 6 /CNW Telbec/ - Carol Murray, President and Chief Executive Officer of Power Tech Corporation Inc. ("Power Tech" or the "Company") (TSX-V: PWB) is pleased to announce the closing of a first phase of a non-brokered private placement announced June 25, of 2,680,000 units for a total amount of $268,000 (the "Placement"). Each unit is comprised of one common share of Power Tech at a price of $0.10 and one half warrant. Each whole warrant entitles the holder to acquire one share of Power Tech, at a price of $ 0.20 per share for a period of 12 months following the closing date. The units issued under the Placement are subject to a restricted period on resale for four months and one day. The proceeds of the Placement will be used as working capital of the Company. Also, PowerTech wishes to confirm the first deliveries of PicBuckets(R) in Europe as part of their official launch by Montabert S.A.S at the Intermat tradeshow which took place in April 2009.These deliveries follow a series of validation trials which took place over the last few months in different regions of France and allowed to test the PicBucket(R) in different types of soils and applications. The first Montabert PicBucket(R) units will cater to the needs of French distributors. Production should accelerate over the course of the next few months as additional distributors of other member countries of the European Union will have been trained about the new Montabert product line. About Power Tech ([ www.powertechci.com ]) -------------------------------------- Power Tech is the only company in the world that manufactures and commercializes percussion technology with interchangeable tools and accessories for the construction, demolition and military industries. Power Tech's percussion technology is a technological breakthrough that combines the power of a hydraulic hammer with the stripping force and manoeuvrability of a conventional bucket. Power Tech's products are marketed under the PicBucket (R) and PicHammer (R) names as well as under world renowned private label brands thru OEM agreements with large manufacturers. The trademarks PicBuckets(R), PicHammer(R) and the Power Tech logo are registered trademarks of Power Tech Canada Inc. Forward-Looking Statements -------------------------- Certain statements included herein, including those that express management's expectations or estimates of the future performance of the Company, constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward-looking statements. We disclaim any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise. Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release. %SEDAR: 00020841EF 

For further information: Mr. Carol Murray, President and Chief Executive Officer, PowerTech Corporation Inc., (450) 963-6400 #101, Fax: (450) 963-4411, [ carol.murray@powertechci.com ]; Mr. Marc Jasmin CMA, Partner, Jasmin-Dumais Financial Communications Inc., Investor Relations, (514) 231-2360, Fax: (514) 221-3762, [ marc@comjamais.com ]