Acceleware Ltd. has successfully closed shares for debt transactions to settle $186,337 in certain trades payable, management fees, and interest payable on convertible debentures by issuing up to 1,863,375 Units at a deemed price of $0.10 per Unit. Insiders of the Company were issued 313,000 Units in the transactions. The net proceeds will be used to fund the Company’s RF XL 2.0 redeployment plan and advance commercialization of new RF heating applications. Acceleware is a leading innovator of RF power-to-heat technologies for various industrial applications like critical minerals and enhanced oil production. They are listed on the TSXV under the trading symbol “AXE”.

Read more at GlobeNewswire: Acceleware Ltd. Announces Closing of Shares for Debt