Acceleware Ltd. Announces Closing of Second Tranche of Non-Brokered Private Placement

Core Viewpoint - Acceleware Ltd. has successfully closed the second tranche of a non-brokered private placement, raising a total of $209,000, contributing to overall gross proceeds of $1,000,334.20 from both tranches, aimed at advancing its RF heating technologies and general corporate purposes [1][4]. Group 1: Private Placement Details - The second tranche involved the distribution of 2,090,000 Units at a price of $0.10 per Unit [1]. - Each Unit consists of one common share and one warrant, with the warrant allowing the purchase of one common share at an exercise price of $0.20, expiring 24 months from issuance [2]. - A total of 10,003,342 Units have been distributed across both tranches [1]. Group 2: Use of Proceeds - Proceeds from the private placement will fund the RF XL 2.0 redeployment plan, advance commercialization of RF heating applications, and support general corporate purposes [4]. Group 3: Insider Participation - Insiders purchased 720,000 Units in the second tranche, totaling 2,020,000 Units across both tranches, qualifying as a related party transaction [5]. - The company relied on exemptions from formal valuation and minority approval requirements based on the fair market value of the Private Placement not exceeding 25% of its market capitalization [5]. Group 4: Company Overview - Acceleware is an advanced electromagnetic heating company focused on RF power-to-heat solutions for industrial applications, aiming to electrify and decarbonize process heat applications while reducing costs [6]. - The company is developing its patented Clean Tech Inverter to enhance amine regeneration efficiency and is collaborating with potash partners to decarbonize drying processes [7]. - Acceleware's RF XL technology is a low-cost, low-carbon solution for enhanced oil production, differing significantly from existing recovery techniques [8].