Acceleware Ltd. Seeks Funding through Extended Private Placement

Acceleware Ltd. Extends Private Placement Financing

Acceleware Ltd. (TSXV: AXE), based in Calgary, Alberta, recently announced an important update regarding its private placement financing initiative. The TSX Venture Exchange has agreed to prolong the closing date for the additional tranches of its previously announced non-brokered private placement. Initially set for closure on June 30, the new deadline has been pushed to September 1.

Details of the Financing

The first tranche of this private placement successfully closed on July 31, generating gross proceeds of over $791,000. This funding will primarily support the Company's RF XL 2.0 redeployment plan aimed at enhancing and commercializing new radio frequency heating applications, which target critical minerals and carbon capture processes.

Understanding the Units

Participants in this financing will receive Units, each consisting of one common share and a common share purchase warrant. These Warrants will allow holders to buy additional shares at a set price of $0.20 for a span of 24 months after issuance. Notably, should the Common Shares reach a trading price of $0.30 for thirty consecutive days, Acceleware has the option to expedite the warrant expiry with 30 days' notice to investors.

Related Party Transactions

The Company’s insiders purchased a total of 1,300,000 Units in the first tranche, with plans for ongoing participation. Due to this insider involvement, this transaction qualifies as a related party transaction under Multilateral Instrument 61-101. The Company intends to utilize exemptions from formal valuation and minority approval requirements, as it determined that the private placement does not exceed 25% of its market capitalization.

About Acceleware Ltd.

Acceleware is recognized for its innovative electromagnetic heating solutions, focusing on RF power-to-heat technologies tailored for industrial applications. Their advancements are crucial for electrifying and decarbonizing industrial heat processes, contributing to significant cost reductions and efficiency improvements.

Collaborative Projects and Innovations

The Company actively collaborates with a group of leading potash industry partners to revolutionize the drying process of potash ore and other critical minerals, reinforcing its commitment to sustainability in industrial procedures.

Future Prospects and Technology

Acceleware’s RF XL technology stands out as a low-cost, low-carbon solution for enhancing heavy oil recovery, which differentiates it from traditional recovery techniques. As the Company continues to innovate and expand its RF heating applications, it aims to play a vital role in the global transition toward sustainable energy solutions.

Investment Contact Information

For further inquiries regarding the company's private placement or to explore investment opportunities, interested parties can reach out to Geoff Clark at +1 (403) 249-9099 or via email at geoff.clark@acceleware.com.

Frequently Asked Questions

What is the purpose of the private placement financing by Acceleware?

The financing aims to support the RF XL 2.0 redeployment plan and advance commercialization of RF heating applications.

What does each Unit consist of in the private placement?

Each Unit consists of one common share and one common share purchase warrant.

What is the exercise price for the Warrants associated with the Units?

The exercise price for the Warrants is $0.20 for a period of 24 months.

Who are the insiders participating in the financing?

Insiders of the company, who previously purchased Units, may also participate in upcoming tranches of the private placement.

Where can I find more information about Acceleware?

More information about Acceleware can be found by directly contacting the company or visiting their official website.

About The Author

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