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Acceleware Announces Commencement of Non-Brokered Private Placement
Acceleware Announces Commencement of Non-Brokered Private Placement Canada NewsWir...
About this update from Acceleware Ltd.
[{"type":"text","content":"\n\n\n\nAcceleware Announces Commencement of Non-Brokered Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Sept. 7, 2017\n\n\n\nCALGARY, Sept. 7, 2017 /CNW/ - Acceleware Ltd. (TSXV: AXE) (\"Acceleware\") announces that it is commencing a non-brokered private placement of units of Acceleware, at a price of $0.18 per unit, for gross proceeds of up to $1,250,000 (the \"Private Placement\"). Each unit is composed of one common share of Acceleware (a \"Common Share\") and one-half of one Common Share purchase warrant of Acceleware (a \"Warrant\"). Each whole Warrant entitles the holder to purchase one additional Common Share, at a price of $0.27 per Common Share, for a period of 24 months following the issuance of the Warrant. Purchasers of the units under the Private Placement will be subject to a four-month hold period in accordance with applicable securities legislation.\n\nAcceleware intends to use the net proceeds of the Private Placement to fund the further development and testing of its RF heating technology, as well as for general corporate purposes. \n\nAbout Acceleware\n\nAcceleware (www.acceleware.com) develops high performance seismic imaging and modeling software products and provides innovative technology for radio frequency (RF) heating, an emerging thermal enhanced oil recovery method. As experts in programming for multi-core CPUs and massively parallel GPUs, Acceleware's professional services team specializes in accelerating computationally intense applications for clients to speed up product design, analyze data and help make better business decisions.  Acceleware's products and services are used by some of the world's largest energy and engineering companies.\n\nAcceleware is a public company on Canada's TSX Venture Exchange under the trading symbol \"AXE\". \n\nDisclaimers\n\nThis press release contains \"forward-looking information\" within the meaning of Canadian securities legislation. Forward-looking information generally means information about an issuer's business, capital, or operations that is ...