BROOKLYN, N.Y., Sept. 6, 2005 (PRIMEZONE) -- Cell Power Technologies, Inc. (OTCBB:CLPW) today announced that the Securities and Exchange Commission declared effective on August 31, 2005 Cell Power's registration statement for the resale of up to 14,836,576 shares of its common stock. The registration was undertaken in connection with Cell Power's $2.2 million private placement of its securities that was closed in the 4th quarter of 2004.
The shares covered by the registration statement consist of 11,146,560 presently outstanding shares and 3,690,016 shares issuable upon the exercise of outstanding options and warrants. These shares include not only the shares and warrants issued in connection with the above-referenced private placement, but also shares issued or issuable to several existing and former service providers. Cell Power will receive no proceeds from the sale of shares by the selling stockholder but it may receive proceeds if any of the warrants or options are exercised.
About Cell Power Technologies, Inc.
Cell Power is the exclusive sub-distributor for Cellboost(TM) in Latin and South America. Cell Power is also entitled to royalty payments from the sale of units of Cellboost(TM) in the United States, Mexico, Canada, Puerto Rico, the U.S. Virgin Islands, the Caribbean and Israel. Cellboost(TM) is a small portable cell-phone battery that comes in phone specific models to fit most commercially available cell phones. It offers up to one-hour additional talk time. Cellboost(TM) is currently available in North America in flagship retailers like Office Max, Office Depot, Radio Shack and Staples. More information on the product can be found at http://www.cellboost.com/.
This press release may contain "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995. A number of factors could cause Cell Power's actual results to differ from anticipated results expressed in such forward-looking statements. Such factors are addressed in Cell Power's filings with the Securities and Exchange Commission (available at http://www.sec.gov). Cell Power assumes no obligation to update any forward-looking statements.