ACCELEWARE SETTLES DEBT FOR COMMON SHARES
CALGARY, Alberta – November 24, 2011 – Acceleware Ltd. (TSX-V: AXE) (the “Company”) a leading developer of high performance computing applications, is pleased to announce that on November 16, 2011, it received final approval by the TSX Venture Exchange to settle outstanding indebtedness of $70,775.90 through the issuance of Common Shares of the Company (“Common Shares”) at deemed prices of $0.05 per Common Share (the “Debt Settlement”). The outstanding debt is comprised of deferred salaries to officers and other management. A total of 1,415,518 Common Shares were issued on November 24, 2011 under the Debt Settlement. The Common Shares are subject to a four month hold period that expires on March 24, 2012.
About Acceleware:
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, benefitting from high performance computing technologies available in the market such as multiple-core CPUs, GPUs or other acceleration hardware.
Acceleware solutions are deployed by companies worldwide such as Philips, Boston Scientific, Samsung, Kodak, General Mills, Nokia, LG, RIM, Medtronic, Hitachi, Fujifilm, FDA, Mitsubishi, Sony Ericsson, AGC, NTT DOCOMO, P-Wave Seismic and Renault to speed up product design, analyze data and make better business decisions in areas such as consumer electronics, industrial design,
Geoff Clark
+1 (403) 249-9099,
This email address is being protected from spambots. You need JavaScript enabled to view it.
Acceleware Ltd.
1600 - 37th St SW
Calgary, AB T3C 3P1 Ph: 1.403.249.9099
www.acceleware.com
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- Acceleware Reports Second Consecutive Quarter of Year over Year Income and Revenue Growth and Releases Results for the First Quarter of Fiscal 2013 For Immediate Release (2)
- Acceleware Reports Second Consecutive Quarter of Year over Year Income and Revenue Growth and Releases Results for the First Quarter of Fiscal 2013 For Immediate Release
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- Acceleware Announces Acceleration of Matrix Methods up to 20X Faster
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- Acceleware’s Multi-Core Image Reconstruction Solution Adopted by Major Pharmaceutical Company
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- Advisory Webinar Covers the Business Benefits of High Performance Computing Lead by Acceleware Director of Product Management, Chris Mason
- Acceleware Announces New Vice President of Sales
- Acceleware Retains Leading Investor Relations Firm
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- Acceleware Announces Partnership with Agilent Technologies to Provide Simulation Acceleration to Antenna Modeling Design System Customers
- Acceleware Recognized by University of Madison-Wisconsin for Aiding in Breast Cancer Research
- Acceleware Announces $2,000,000 Private Placement
- Acceleware to Exhibit at European Microwave Week in Munich
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- Acceleware to Demonstrate Significant Performance Increase with Kirchhoff Pre-Stack Time Migration Software at SEG 2007
- Acceleware to Participate at Antenna Systems and Short-Range Wireless 2007
- Acceleware Corp. Names Seasoned HPC Veteran, Steven Joachims, as Vice President of Business Development
- Acceleware Announces Multi-Track Webinar Series for GPU Computing Users
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