CALGARY, Jan. 25, 2018 /CNW/ - Acceleware® Ltd.
("Acceleware" or the "Corporation") (TSX-V: AXE), today announced
that it has granted stock options to acquire up to 1,821,534 common
shares of the Corporation to certain of its employees, officers and
directors. The options have an exercise price of $0.30 per common share and expire on January 24, 2023.
Of the 1,821,534 options granted, 692,500 shall vest on the
first anniversary of the grant date, 692,500 shall vest on the
second anniversary of the grant date, 218,267 shall vest when the
share price of the common shares of the Corporation closes at or
above $0.375 for ten consecutive
trading days, and 218,267 shall vest when the share price of the
common shares of the Corporation closes at or above $0.45 for ten consecutive trading days. The
Corporation's stock option plan allows for 9,757,532 common shares
to be reserved for issuance under the plan. Upon issuance of the
options granted, there will be 9,744,247 common shares reserved
under options outstanding, leaving 13,285 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 (www.acceleware.com)
develops high performance seismic imaging and modeling software
products and provides innovative technology for radio frequency
(RF) heating, an emerging thermal enhanced oil recovery method. As
experts in programming for multi-core CPUs and massively parallel
GPUs, Acceleware's professional services team specializes in
accelerating computationally intense applications for clients to
speed up product design, analyze data and help make better business
decisions. Acceleware's products and services are used by
some of the world's largest energy and engineering companies.
Acceleware is a public company on Canada's TSX Venture Exchange under the
trading symbol AXE.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Acceleware Ltd.