Accelerated funding through private placement extend announcement by Acceleware Ltd.
Acceleware Ltd, a public company listed on the TSX Venture Exchange under the symbol "AXE," has announced the extension of closing for additional tranches of its private placement until September 1, 2025. The latest update on this non-brokered private placement is that the first tranche closed on July 31, 2025, raising gross proceeds of approximately $791,334.20.
The proceeds from this financing will be used to fund a portion of Acceleware's RF XL 2.0 redeployment plan and to advance commercialization of new radio frequency (RF) heating applications. These applications specifically include critical minerals processing, amine regeneration (which includes applications like carbon capture), and for general corporate purposes.
Each unit sold in the placement consists of one common share and one common share purchase warrant. The warrants entitle the holder to acquire one common share at an exercise price of $0.20 for 24 months from the date of issuance. The securities are subject to a four-month plus one-day hold period.
It is important to note that the company is relying on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101. Insiders purchased a total of 1,300,000 units in the first tranche, and they may participate in subsequent tranches, making the private placement a related party transaction.
However, uncertainties and risks associated with developing and adopting new technologies, general business, economic, competitive, political, and social uncertainties, change in demand for technologies, receipt of necessary approvals, and the availability of investment capital and other funding are all risk factors that could impact the company's future.
The company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. For more information, contact Geoff Clark at +1 (403) 249-9099 or [email protected].
It is also worth mentioning that the securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For a more comprehensive list of risk factors, readers are encouraged to refer to the company's December 31, 2024, year-end Management Discussion and Analysis ("MD&A").
In summary, Acceleware is advancing its RF power-to-heat technologies for critical minerals and amine regeneration via this ongoing extended private placement, with initial proceeds already secured and further financing being extended to support continued development.
- The Toronto-based company, Acceleware Ltd, has announced an extension for additional tranches of its private placement, which is listed on the TSX Venture Exchange, until September 1, 2025.
- The funds raised from this non-brokered private placement will be utilized to fund a portion of Acceleware's RF XL 2.0 redeployment plan and to advance commercialization of new radio frequency (RF) heating applications, including critical minerals processing and amine regeneration.
- The news about Acceleware's business activities also indicates that the company is relying on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101, and insiders have purchased a significant number of units in the first tranche.
- Although this private placement marks a significant step in Acceleware's finance and technology developments, it is important to note that there are several uncertainties and risks associated with the company's future, such as developing new technologies, general business risks, and securing investment capital.
