Northstar Electronics Inc. (OTCBB: NEIK) announced a non-brokered private placement of units for gross proceeds of CAD 600,000 on January 5, 2012. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share over five years period at a price set at 20% premium over the unit purchase price. Each unit will be priced on 10 days trading average of the company's shares on the stock exchange. Empower Technologies Corp. will invest CAD 400,000 on closing of the merger and may become the lead investor in the transaction. On May 23, 2012, Northstar Electronics Inc. closed the transaction.