Acceleware® Ltd. closed the first tranche of a non-brokered private placement, distributing a total of 7,913,342 Units at $0.10 per Unit for gross proceeds of $791,334.20. Each Unit consists of a Common Share and a Warrant. The proceeds will be used for the Company’s RF XL 2.0 redeployment plan and advancing commercialization of new RF heating applications. Insiders purchased 1,300,000 Units. Acceleware is an advanced electromagnetic heating company with RF power-to-heat solutions for industrial applications, partnering with potash partners for decarbonization. The Company is listed on the TSXV under “AXE.”

Read more at GlobeNewswire: Acceleware Ltd. Announces Closing of First Tranche of