Acceleware Announces Option Grant
CALGARY, Alberta – May 9, 2011 – Acceleware® Ltd. (TSX-V: AXE) (the “Corporation”), a leading developer of high performance computing applications, today announces that it has granted stock options to acquire up to 1,090,000 common shares of the Corporation to certain of its employees, officers and directors. The options have an exercise price of $0.10 per common share and expire on May 9th, 2016. One third of the options shall vest on the first anniversary of the grant date, one third of the options shall vest on the second anniversary of the grant date, and the remaining options shall vest on the third anniversary of the grant date. The stock option grant is subject to regulatory approval.
Acceleware develops and markets solutions that enable software vendors to leverage heterogeneous, multi-core processing hardware without rewriting their applications for parallel computing. This acceleration middleware allows customers to speed-up simulation and data processing algorithms, benefiting from high performance computing technologies available in the market such as multiple-core CPUs, GPUs or other acceleration hardware.
Acceleware solutions are deployed worldwide by companies such as Philips, Boston Scientific, Samsung, Eli Lilly, General Mills, Nokia, LG, RIM, Medtronic, Hitachi, Fujifilm, FDA, Mitsubishi, Sony Ericsson, AGC, NTT DOCOMO, and Renault to speed up product design, analyze data and make better business decisions in areas such as electronic manufacturing, oil & gas, medical and security imaging, industrial and consumer products, financial, and academic research. For more information about Acceleware, please visit www.acceleware.com.
Acceleware is a public company on Canada’s TSX Venture Exchange under the trading symbol AXE.
The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.
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For further information,
Geoff Clark, President and CEO, Acceleware Ltd.