Acceleware Corp. (TSX VENTURE:AXE) is pleased to announce that it has completed a non-brokered private placement of 8,200,000 common shares at a price of $0.05 per common share for gross proceeds of $410,000 (the “Offering”). The private placement was increased from the amount disclosed in the press release of Acceleware dated December 10, 2008 from 8,000,000 common shares to 8,200,000 common shares.
The private placement is subject to final TSX Venture approval. The securities issued pursuant to the private placement are subject to a four month hold. Proceeds of the private placement will be used for general corporate purposes and to increase the Corporation’s working capital.
The original release can be found here.