CALGARY, Alberta, Feb. 11, 2025 (GLOBE NEWSWIRE) — Acceleware® Ltd. (“Acceleware” or the “Corporation”) (TSX-V: AXE), a leading innovator of transformative technologies targeting the decarbonization of industrial process heat, as of February 10, 2025, has granted stock options to acquire up to 1,634,000 common shares of the Corporation to certain of its employees, consultants, officers and directors. The options have an exercise price of $0.09 per common share and expire on February 10, 2030.
Of the 1,634,000 options granted, 592,000 shall vest on the first anniversary of the grant date, 592,000 shall vest on the second anniversary of the grant date, 225,000 shall vest when the share price of the common shares of the Corporation closes at or above $0.115 for ten consecutive trading days, and 250,000 shall vest when the share price of the common shares of the Corporation closes at or above $0.135 for ten consecutive trading days. The Corporation’s stock option plan allows for 11,843,854 common shares to be reserved for issuance under the plan. Upon issuance of the options granted, there will be 11,529,466 common shares reserved under options outstanding, leaving 314,388 common shares that may be reserved for issuance under the Corporation’s stock option plan. The stock option grant is subject to regulatory approval.
About Acceleware
Acceleware is an advanced electromagnetic (EM) heating company with highly scalable EM solutions for large industrial applications. The Company’s solutions provide an opportunity to economically electrify and decarbonize industrial process heat applications previously considered difficult to abate, which could have a significant impact on global GHG emissions.
Acceleware is piloting RF XL, its patented low-cost, low-carbon EM thermal production technology for heavy oil and oil sands that is materially different from any heavy oil recovery technique used today. The Company is also working with a consortium of world-class potash partners on a pilot project using its patented and field proven Clean Tech Inverter (CTI) to decarbonize drying of potash ore and other minerals. Acceleware is actively developing partnerships for EM heating of other industrial applications in mining, steel, agriculture, cement, hydrogen and other clean fuels.
Acceleware and Saa Dene Group (co-founded by Jim Boucher) have created Acceleware | Kisâstwêw to raise the profile, adoption, and value of Acceleware technologies. The partnership is intended to improve the environmental and economic performance of industry by supporting ideals that are important to Indigenous peoples, including respect for land, water, and clean air.
Acceleware is a public company listed on Canada’s TSX Venture Exchange under the trading symbol “AXE”.
For further information,
Geoff Clark
geoff.clark@acceleware.com
Acceleware Ltd.
435 10th Avenue SE
Calgary, AB, T2G 0W3 Canada
+1 (403) 249-9099
http://www.acceleware.com
