Tenth Power Technologies Corp. announces intended going private transaction

BURLINGTON, ON, April 10, 2013 /CNW/ - Tenth Power Technologies Corp. ("Tenth Power" or the "Company") (TSX-V:TPI) confirms, further to its press release of March 13, 2013, that it intends to effect a going private transaction (the "Transaction").

In connection with this intended Transaction, the Company has called a shareholder meeting for May 7, 2013 at which meeting the shareholders of the Company will be asked to vote on the proposed Transaction.  The Transaction will require, among other things, the approval of the "majority of the minority", as required under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions.  Guy Bury, Dennis Bernhard, Wayne McDowell and certain other interested parties holding approximately 34.7% of the Company's common shares are "interested parties" and will not be able to vote in favour of the Transaction.

In connection with the Transaction, the Company has obtained a valuation from Klein Farber Corporate Finance Inc.  In light of the valuation and other factors, the offering price for the minority shares is $0.01 per share.

There can be no assurance that the proposed Transaction will be approved by Shareholders, or if approved, completed.

About Tenth Power Technologies Corp.

Tenth Power is a Canadian-based technology and solutions company.  Tenth Power supplies secure business solutions to clients in the telecommunications, financial services, manufacturing, government and health care sectors.  Tenth Power augments proprietary software with product licensing and strategic acquisition of industry-leading services, to design solutions that safeguard information and electronic communications.  The suite of products includes identity and signature authentication, Internet security, safe communication platforms and a secured collaboration environment.  Tenth Power also provides IT security consulting and managed services.

Forward Looking Statements

This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The Company disclaims any obligation to update these forward-looking statements.

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.

SOURCE Tenth Power Technologies Corp.

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