$2.5 Million Financing Completed


Plutonic Power Corporation (PCC - TSXV), a Vancouver, BC based renewable energy developer, announces that it has closed its $2.5 million nonbrokered private placement financing that was announced on March 8, 2006. The Company has issued 3.1 million units of the Company for proceeds of $2.48 million. Proceeds of the financing shall be used for general administrative purposes and to continue funding development of the Company's portfolio of run of river green hydroelectric power development projects.

Each unit consisted of one $0.80 common share and one half of one common share purchase warrant with each whole warrant entitling the holder to purchase a further common share at $1.25 for one year and at $1.75 for a two year period. No finders fees were payable.

Directors and officers of the Company purchased 432,000 units of the financing.

All securities issued in this financing shall be subject to a four-month hold period.

On behalf of the Board of Directors
Donald McInnes, President

For additional information please contact:
Lisa May
Investor Relations
Office: 604-669-4999 ext 1034
Cell: 604-314-3362

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.