Universal Power Corp.

Universal Power Corp.

September 08, 2009 17:30 ET

Universal Closes First Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2009) - Universal Power Corp. (TSX VENTURE:UNX)(FRANKFURT:3U2A)(the "Company") announced today that it has closed the first tranche of its non-brokered private placement of up to 8,000,000 common shares previously announced on July 7, 2009.

Upon closing of the first tranche the Company has raised gross proceeds of $1,600,000 through the issuance of 3,200,000 common shares offered at a price of $0.50 per share. The shares are subject to a TSX Venture Exchange hold period of four months and one day from closing of each tranche. A 3% finder's fee is payable in cash to applicable finders.

The net proceeds of the offering will be used for satisfying the cash outlay for the HRT Services Agreement (previously announced on July 7, 2009) and general working capital.

About Universal

Universal Power Corp. (www.universalpowercorp.com) is an independent oil and gas exploration and development company with broad based Black Economic Empowerment partnerships, trading its common shares publicly on Canadian and German exchanges. The company currently holds interests in six Blocks of offshore concessions covering over 32,000 sq km in Namibia, West Africa.


Barry Swanson, Director & CEO

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Universal Power Corp. with respect to its performance, business and future events.

Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, foreign exchange fluctuations, and changes in business strategy, regulatory requirements, and demand for our resources, competition and dependence on key personnel. These risks, as well as others, could cause actual results and events to vary significantly. Universal Power Corp. does not undertake any obligations to release publicly any revisions for updating any voluntary 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.

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