Acceleware closes $791,334 first tranche of placement

Executive Summary

• Acceleware Ltd. has closed the first tranche of its non-brokered private placement, issuing 7,913,342 units for gross proceeds of $791,334.20.
• The transaction is a related-party transaction, with insiders purchasing 1.3 million units, relying on exemptions from formal valuation and minority approval requirements under Multilateral Instrument 61-101.
• Proceeds are designated to finance the RF XL 2.0 redeployment plan, advance commercialization of RF heating applications (including critical minerals and carbon capture), and for general corporate purposes.

Key Details

• Units Issued: 7,913,342 units.
• Price Per Unit: $0.10 CAD.
• Gross Proceeds: $791,334.20.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.20 per common share.
  • Expiration: 24 months from issuance.
  • Acceleration Clause: If common shares trade at or above $0.30 for 30 consecutive trading days, Acceleware may accelerate expiry, with warrants expiring 30 days after notice.
• Hold Period: Four-month hold period for common shares, warrants, and underlying shares, expiring on December 2, 2025.
• Finders' Fees: None paid.
• Insider Participation: Insiders purchased 1.3 million units.
• Regulatory Status: Classified as a related-party transaction under Multilateral Instrument 61-101; exemptions from formal valuation and minority approval relied upon based on fair market value not exceeding 25% of market capitalization.
• Use of Proceeds:
  • Finance portion of RF XL 2.0 redeployment plan.
  • Advance commercialization of new RF heating applications (critical mineral applications, amine regeneration, carbon capture).
  • General corporate purposes.
• Future Tranches: Anticipated to close in due course.

Notable Quotes

• None provided in the text.