By Devika Patel
Knoxville, Tenn., Oct. 3 - Acceleware Corp. said it plans a non-brokered C$2 million private placement of shares.
The company will sell 2,409,699 common shares at C$0.83 apiece to Investors Group Mergers & Acquisitions Fund.
Acceleware has agreed to pay a finder's fee of C$150,000 and issue 100,000 finder's warrants. Each warrant is exercisable for one common share at C$1.30 per share until Dec. 14, 2008.
Proceeds will be for general corporate purposes and to increase Acceleware's working capital.
Calgary, Alta.-based Acceleware develops acceleration products used to reduce the run times of high-performance computing applications like cell phone design and seismic data processing.
| Issuer: | Acceleware Corp.
|
| Issue: | Common shares
|
| Amount: | C$2,000,050
|
| Shares: | 2,409,699
|
| Price: | C$0.83
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Investors Group Mergers & Acquisitions Fund
|
| Fees: | C$150,000 and 100,000 finder's warrants
|
| Pricing date: | Oct. 3
|
| Stock symbol: | TSX Venture: AXE
|
| Stock price: | C$1.06 at close Oct. 3
|
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