Acceleware Ltd. announced a non-brokered private placement of 8,695,652 units at a price of CAD 0.23 per unit for total gross proceeds of up to CAD 2,000,000 on June 6, 2023. Each unit will consists of common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder thereof to acquire one common share of CAD 0.30 for a twenty-four months period from the date of issuance.

In the event that the common shares trade at a closing price at or greater than CAD 0.69 per common share for a period of thirty consecutive trading days, may accelerate the expiry date of the common share purchase warrants by giving notice to the holders thereof, and in such case, the common share purchase warrants will expire on the 30th day after the date on which such notice is given by the company. All the securities issued in the transaction will subject to a four-month hold period. The company expect to close on or about June 27, 2023.

All the securities issued in the transaction will subject to the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange.