Acceleware Announces Non-Brokered Private Placement of Units and Shares for Debt Transactions

Core Points - Acceleware Ltd. announced a non-brokered private placement of units at a price of $0.10 per unit, aiming to raise gross proceeds of up to $1,500,000 [1][4] - Each unit will consist of one common share and one common share purchase warrant, with the warrant allowing the purchase of a common share at $0.20 for 24 months [2] - The company plans to use the proceeds from the private placement and shares for debt transactions to fund its RF XL 2.0 redeployment plan and advance commercialization of new RF heating applications [4] Private Placement Details - The private placement will consist of units priced at $0.10 each, with a maximum gross amount of $1,500,000 [1] - Each unit includes one common share and one warrant, which can be exercised at $0.20 for 24 months [2] - If the common shares trade at or above $0.30 for 30 consecutive trading days, the company may accelerate the expiry of the warrants [2] Shares for Debt Transactions - Acceleware intends to settle up to $300,000 in trade payables and interest on convertible debentures through shares for debt transactions [3] - The units issued in these transactions will be at the same terms as the private placement, at a deemed price of $0.10 per unit [3] Closing and Regulatory Approvals - The expected closing date for the private placement and shares for debt transactions is around July 22, 2025 [4] - Completion is subject to regulatory approvals, including from the TSX Venture Exchange [5] Insider Participation - Certain insiders are expected to participate in the private placement and shares for debt transactions, qualifying it as a related party transaction [6] - The company will rely on exemptions from formal valuation and minority approval requirements based on the fair market value not exceeding 25% of its market capitalization [6] Company Overview - Acceleware is an advanced electromagnetic heating company focused on RF power-to-heat solutions for industrial applications [7] - The company aims to electrify and decarbonize industrial process heat applications while reducing costs [7] - Acceleware is developing technologies for amine regeneration and has partnered with potash industry leaders to decarbonize drying processes [8]