RENO, Nev., Oct. 1, 2007 (PRIME NEWSWIRE) -- EPOD International Inc. (the "Company," "EPOD") (Pink Sheets:EPOI) (Frankfurt:EDU), a Grid-Integrated, eco-power utility and electric power systems provider, announced today that is has successfully closed a $3.296 million private placement of units. The Company issued 3,296 units at a price of $1,000 per unit, with each unit comprised of 1,000 warrants and one convertible debenture with a face value of $1,000, an interest rate of 12% and a maturity of 12 months. The convertible debentures (including interest) are convertible into shares of the company at a price per share of $0.50. The convertible debentures are retractable by the holders at any time prior to maturity provided that the Company closes an additional round of financing for a minimum amount of $5 million and are redeemable by the Company at any time prior to maturity. The warrants are exercisable into shares of the Company at a price per share of $0.30 with a maturity of 24 months. The holders also have an option to exchange all of their debentures and warrants for an interest in the Company's installation facility located in Falkenau, Germany based on a valuation of that facility at a price of $3.50 per installed watt hour of production.
L. Mark Roseborough President
EPOD International Inc.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Statements about EPOD's future expectations, including future revenue, earnings, and transactions, as well as all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. EPOD intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are detailed from time to time in the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Company's 10-KSB for year ended December 31, 2005 filed on or about April 17, 2006, and incorporated herein by reference.
About EPOD: EPOD is a Grid-Integrated, eco-power utility and electric power systems provider. The Company's operations include the engineering and construction of turn-key factories for solar panel production and material handling systems. Additionally, the Company has subsidiaries involved in the manufacturing of inverters, rectifiers, energy management systems, and solar panels.
The Company's filings, including current financial reports, can be accessed through the EDGAR database at www.sec.gov.