PwrCor, Inc. Closes Private Placement

NEW YORK, Oct. 19, 2017 -- PwrCor, Inc. (OTCQB:PWCO), a cleantech energy technology company launching advanced and disruptive solutions for the Waste Heat to Energy, Geothermal, and Solar Thermal markets, today announced that it has completed the sale of $665,000 of units (the “Units”) of the Company’s securities. 

In aggregate, 6,650,000 shares of common stock plus warrants to purchase 3,325,000 shares of Common Stock were issued.  The Company received gross proceeds of $665,000. The units were sold at $0.10 per Unit, consisting of one restricted share of Common Stock and one warrant to purchase one-half share of Common Stock exercisable at $0.30 per share.  The warrants may be redeemed, in whole or in part, provided the average closing bid price of the Company’s common stock is at or above $1.00 per share for at least twenty (20) consecutive trading days. Please refer to the Company’s Form 8K filed with the SEC on October 18, 2017 for additional details.

“We have successfully passed an important business plan milestone,” said Tom Telegades, Chief Executive Officer of PwrCor, Inc. “The capital we raised will allow us to complete PwrCor’s first geothermal installation at the Surprise Valley Hot Springs Resort sponsored by the California Energy Commission. The engine has been built to specifications and is currently undergoing testing; customer installation is scheduled in November. This capital will also help advance other initiatives with targeted candidates in strategic markets and fund our ongoing R&D program and engine testing, as well as the expansion of our marketing, sales, and industry awareness programs. We’re pleased to have met our funding objective, which was strategically calculated to meet our needs with minimum shareholder dilution, and look forward to furthering the commercialization of our proprietary engine technology.”

The securities sold have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.  This release is not used for the purpose of conditioning the market in the United States for any of the securities offered.

About the Technology

PwrCor^TM engines use proprietary technology that can cost effectively convert ultra-low-grade heat to usable mechanical or electrical energy, opening up an immense market that competing technologies cannot exploit with a cost effective solution.  PwrCor^TM is a cleantech  ‘GREEN’ technology that uses no fossil fuels, does not operate via combustion, has no emissions, and does not process any working fluids that are flammable, harmful to the environment, or costly to replace.  PwrCor^TM is scalable, modular, and runs relatively silently, all within a small footprint.

About PwrCor, Inc.

PwrCor, Inc., is a cleantech energy technology company offering advanced and disruptive solutions for the Waste Heat to Energy, Geothermal, and Solar Thermal markets, as well as other applicable markets. PwrCor is also focused on energy infrastructure development projects and delivering cleantech energy solutions to commercial and not-for-profit customers. Please visit our website at www.pwrcor.com for additional information.

Safe Harbor Forward-Looking Statement

With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  These statements involve unknown risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to raise sufficient financing to implement its growth strategy, and its ability to successfully develop and commercialize its proprietary products. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent reports on Forms 10-K, 10-Q, 8-K, Schedule 14A and other filings made with the SEC. Copies of these reports are available from the SEC's website, www.sec.gov, or without charge from the Company.  The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.  Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.

Company Contact:
Thomas Telegades, CEO
212-796-4097
[email protected]

Investor Relations Contact:
PCG Advisory Group
Stephanie Prince, Managing Director
Ph: (646) 762-4518
[email protected]