NEWSCENTER

PRESS RELEASE:

POWER TECH CORPORATION INC.

POWERTECH COMPLETES A SECOND CLOSING OF A FINANCING FOR $1,733,509

Terrebonne (Quebec), April 17, 2007 – Mr. Carol Murray, President and Chief Executive Officer of Power Tech Corporation Inc. (TSX-V: PWB) announces that PowerTech has closed a private placement of units for an amount of $1,733,509. This amount represents the second closing of the private placement announced on February 28, 2007 which, including the amount of the first closing announced on April 5, 2007, totals gross proceeds of $3,243,509.

PowerTech issued 3,151,836 units for the second closing announced today and, under the terms of the private placement announced February 28, 2007, PowerTech issued an aggregate of 5,897,290 units at a price of $0.55 per unit. Each unit is comprised of one common share and one-half of one common share purchase warrant. Each full warrant included in the units issued in the second private placement entitles its holder to subscribe for one common share of PowerTech at a price of $0.70 until April 16, 2009. The units and the underlying securities issued in the second private placement are subject to a four-month hold period that expires August 17, 2007.

In consideration of the services rendered, Northern Securities Inc., the agent, received an aggregate of 315,184 Compensation Options, each of which entitles its holder to subscribe until April 16, 2009 to one unit of PowerTech at a price of $0.55 per unit under the same terms and conditions as the units issued in the private placement. A commission of $138,680 was also paid to the agent.

“We are very pleased to close this second phase of our financing, which has enabled us to raise a total of $3.2 million. With this support, PowerTech now has the means to pursue and accelerate its development plan from both a commercial and technological perspective. The commercial agreement recently concluded with NPK Construction Equipment, as well as last week’s launch of the new 3000 Series of our multi-functional percussion bucket, are two eloquent examples of PowerTech’s know-how. We intend to continue capitalizing on this expertise in the future to ensure the Company’s growth and success,” said Mr. Murray.

Technological development focused on industry needs

In recent years, PowerTech has developed close links with various players in the construction industry. “We are listening to the industry’s needs and this is what guides us in the development of products which can offer new potential applications. As part of our technological development program we make sure that our products, before reaching the commercialization phase, are put through a series of specific tests in real construction site conditions with the assistance of seasoned entrepreneurs. This process ensures that our product is both effective and meets the genuine and urgent needs of our target clienteles,” added Mr. Sicotte.

About PowerTech (www.powertechci.com)

PowerTech is the only company in the world that manufactures and commercializes a percussion bucket for the construction, demolition, aluminum, mining, tunnel digging, forestry and military industries. PowerTech’s percussion bucket, commercialized under the PicBucket and PicHammer brand names, is a technological breakthrough that combines the power of a hydraulic hammer with the stripping force and maneuverability of a conventional bucket.

PowerTech intends to position itself as a leader in the development, integration and commercialization of leading edge technologies that allow for substantial improvements in the performance, productivity and functionality of demolition and excavation equipment.

* The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

 

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Source:

Power Tech Corporation Inc.
www.powertechci.com

For further information:

Carol Murray
President and Chief Executive Officer
Corporation Power Tech Inc.
Tel.: (450) 963-6400
Fax: (450) 963-4411
E-mail: carol.murray@powertechci.com

Frédéric Tremblay
HKDP
Tel.: (514) 395-0375, ext. 234
E-mail: ftremblay@hkdp.qc.com

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