| Home : September 2011 : September 07, 2011 News : Acceleware Enters Into Shares for Debt Agreements |
Acceleware Enters Into Shares for Debt Agreements |
September 07, 2011
CALGARY, ALBERTA--(Marketwire - Sept. 6, 2011) - Acceleware Ltd. (TSX VENTURE:AXE) (the "Company") a leading developer of high performance computing applications, is pleased to announce that on September 2, 2011 it settled 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"), subject to TSX Venture Exchange final approval. The outstanding debt is comprised of deferred salaries to officers and other management. A total of 1,415,518 Common Shares were issued under the Debt Settlement. The Common Shares are subject to a four month hold period that expires on January 6, 2012.
http://www.marketwire.com/mw/release.do?id=1557678&sourceType=3
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