| Home : November 24 2011 Computer News : Acceleware Settles Debt for Common Shares |
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Acceleware Settles Debt for Common Shares |
November 24, 2011
CALGARY, ALBERTA--(Marketwire - Nov. 24, 2011) - Acceleware Ltd. (TSX VENTURE:AXE) (the "Company") a leading developer of high performance computing applications, is pleased to announce that on November 16, 2011, it received final approval by the TSX Venture Exchange to settle 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"). The outstanding debt is comprised of deferred salaries to officers and other management. A total of 1,415,518 Common Shares were issued on November 24, 2011 under the Debt Settlement. The Common Shares are subject to a four month hold period that expires on March 24, 2012.
Link: http://www.marketwire.com/mw/release.do?id=1591086&sourceType=3
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