- Acceleware (AXE) has completed its previously announced non-brokered private placement of 10 per cent unsecured convertible debentures for gross proceeds of $1,500,000
- Each debenture matures four years after the issue date and is convertible into units of Acceleware
- Each unit consists of one common share and one-half of one common share purchase warrant
- Acceleware Ltd is a Canadian clean-tech innovator
- Acceleware Ltd. (AXE) opened trading at C$0.74 per share
Acceleware (AXE) has completed its non-brokered private placement of 10 per cent unsecured convertible debentures for approximate gross proceeds of $1,500,000.
Each debenture matures four years after the issue date and is convertible into units of Acceleware at a conversion price of $0.80.
Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share, at an exercise price equal to 200 per cent of the conversion price of the debentures, for a 24-month period following the distribution of the debentures.
Net proceeds will be used to fund the further development and testing of Acceleware’s RF heating technology (RF XL and the Clean Tech Inverter) and for general corporate purposes.
Purchasers of the Debentures will be subject to a four-month hold period in accordance with securities legislation.
Acceleware expects its second private placement of 10 per cent unsecured convertible debentures to close on or before April 15, 2022.
Acceleware Ltd is a Canadian clean-tech innovator of radio frequency (RF) heating technologies that enable the electrification of industrial heat dramatically reducing GHG emissions.
Acceleware Ltd. (AXE) opened trading at C$0.74 per share.