Plutonic Power Corporation

Plutonic Power Corporation

March 30, 2006 14:27 ET

Plutonic Power Corporation: $2.5 Million Financing Completed

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 30, 2006) - Plutonic Power Corporation (TSX VENTURE:PCC), a Vancouver, BC based renewable energy developer, announces that it has closed its $2.5 million nonbrokered private placement financing that was announced on March 8, 2006. The Company has issued 3.1 million units of the Company for proceeds of $2.48 million. Proceeds of the financing shall be used for general administrative purposes and to continue funding development of the Company's portfolio of run of river green hydroelectric power development projects.

Each unit consisted of one $0.80 common share and one half of one common share purchase warrant with each whole warrant entitling the holder to purchase a further common share at $1.25 for one year and at $1.75 for a two year period. No finders fees were payable.

Directors and officers of the Company purchased 432,000 units of the financing.

All securities issued in this financing shall be subject to a four-month hold period.

On behalf of the Board of Directors


Donald McInnes, President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information