| Home : March 2011 : March 08, 2011 News : AccelRate Announces $6,000,000 Non-Brokered Financing Over-Subscribed |
AccelRate Announces $6,000,000 Non-Brokered Financing Over-Subscribed |
March 08, 2011
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 8, 2011) - AccelRate Power Systems Inc. (TSX VENTURE:AXP)(FRANKFURT:KCG)
(the "Company") announced on January 25, 2011 that it had retained the services of Aberdeen Gould Capital Markets Ltd., an Exempt Market Dealer (the "EMD"), to arrange a non-brokered private placement consisting of up to 20,000,000 common shares of the Company at the price of $0.30 per share to raise gross proceeds of up to $6,000,000. The Company's filing in respect of the financing was conditionally accepted by the TSX Venture Exchange (the "Exchange") on January 31, 2011. On the advice of the EMD, the offering was changed to subscription receipts exchangeable for common shares on completion of the Company's proposed change of business (the "COB"). That offering has been over-subscribed and the Company will be making its final filing with the TSX Venture Exchange (the "Exchange") today, with the intention of
http://www.marketwire.com/mw/release.do?id=1408247&sourceType=3
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