2009-11-10 15:30:06 -

Xplore Technologies Corp. (OTCBB:XLRT) (“Xplore” or the “Company”) announced today that it raised $3.21 million in gross proceeds through the private placement of senior secured subordinated promissory notes and warrants to purchase 32,100,000 shares of its common stock. Philip S. Sassower, the Company’s Chairman and Chief Executive Officer, purchased $1.0 million of the secured promissory notes and warrants to purchase

10,000,000 shares of common stock in the private placement.

“We are pleased with the strong investor response to this additional round of financing in this difficult economic climate,” stated Philip S.

Sassower, Chairman and Chief Executive Officer of Xplore. “There are very significant large scale sales opportunities, including those in the military, currently being aggressively pursued by Xplore and we believe the Company may be on the cusp of capturing a significant portion of this business.” Mr. Sassower added, “The Company’s past cost reductions are now fully reflected in its financial results and its cash burn rate has been dramatically reduced. As the markets improve, we expect Xplore’s performance and cash flow to show improvement as well.”


The Company used $0.9 million of the net proceeds from the private placement to repay indebtedness to the Company’s senior lender, and intends to use the balance of the net proceeds for product development, working capital and general corporate purposes.

The notes issued in the private placement are due and payable in full on December 31, 2011 and bear interest at the rate of 10% per annum.

Interest on the notes may be paid in cash or, at the option of the Company, in shares of the Company’s common stock. The notes are secured by all of the assets of the Company and its wholly owned subsidiary, and are senior to all other obligations of the Company other than the Company’s working capital facility. The warrants issued in the private placement to the note purchasers are exercisable beginning on January 14, 2011, at an exercise price of $0.10 per share, and will expire on January 15, 2013.

In addition, on November 5, 2009, the Company, its wholly owned subsidiary and a majority-in-interest of the purchasers under the Fall 2008 note purchase agreement and Spring 2009 note purchase agreement agreed to extend the maturity date of the secured subordinated promissory notes issued under the note purchase agreements in the aggregate amount of $4,090,000 from December 31, 2010 to December 31, 2011 and extend the expiration date of warrants to purchase 40,090,000 shares of the Company’s common stock issued in connection with such notes from February 27, 2012 to January 14, 2013.

The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.



About Xplore Technologies ®


Xplore ( www.xploretech.com : ) is engaged in the business of developing, integrating and marketing of rugged mobile wireless PC computing systems. The Company’s products enable the extension of traditional computing systems to a range of field and on-site personnel, regardless of location or environment.
Using a range of wireless communication mediums together with the Company’s rugged computing products, the Company’s end-users are able to receive, collect, analyze, manipulate and transmit information in a variety of environments not suited to traditional non-rugged computing devices. The Company’s end-users are in markets that include utility, warehousing/logistics, public safety, field service, transportation, manufacturing, route delivery, military and homeland security.

This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect Xplore’s current views with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to differ materially from the statements made including those factors detailed from time to time in filings made by Xplore with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected.
Xplore does not intend and does not assume any obligation to update these forward-looking statements.


Xplore: For Media or U.S. Investor Information Contact:Martin

Janis & Company, Inc.Beverly JedynakTel: (312) 943-1100Email:
b.jedynak@janispr.com : mailto:b.jedynak@janispr.com