Acceleware Ltd. Announces Closing of Shares for Debt Transactions

Core Points - Acceleware Ltd. has completed shares for debt transactions to settle $186,337 in trades payable, management fees, and interest on convertible debentures by issuing up to 1,863,375 Units at a deemed price of $0.10 per Unit [1][4] - Each Unit consists 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] - Insiders received 313,000 Units in these transactions, qualifying as a related party transaction under MI 61-101, with exemptions from formal valuation and minority shareholder approval [3] Financial Details - The proceeds from the Shares for Debt Transactions will be used to fund the RF XL 2.0 redeployment plan, advance commercialization of RF heating applications, and for general corporate purposes [4] - The Company is focused on improving efficiency in amine regeneration and has partnered with potash industry leaders to decarbonize drying processes [6] Company Overview - Acceleware is an advanced electromagnetic heating company specializing in RF power-to-heat solutions for industrial applications, aiming to electrify and decarbonize process heat while reducing costs [5] - The RF XL technology is a patented low-cost, low-carbon solution for enhanced oil production, differing significantly from existing recovery techniques [7]