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Acceleware Announces Option Grant
CALGARY, ALBERTA--(Marketwired - Jan 22, 2015) - Acceleware® Ltd. ("Acceleware" or the "Corporation") (TSX VENTURE:AXE), today announced that it has granted stock options to acquire up to 1,668,422 common shares of the Corporation to certain of its employees, officers and directors. The options have an exercise price of $0.05 per common share and expire on January 21st, 2020.
Of the 1,668,422 options granted, 100,000 shall vest six months after the grant date, 453,322 shall vest on the first anniversary of the grant date, 453,322 shall vest on the second anniversary of the grant date, 453,356 shall vest on the third anniversary of the grant date, 104,211 shall vest when the share price of the common shares of the Corporation closes at or above $0.0625 for ten consecutive trading days, and 104,211 shall vest when the share price of the common shares of the Corporation closes at or above $0.075 for ten consecutive trading days. 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.
