CALGARY, ALBERTA — (Marketwired) — 05/28/13 — Acceleware® Ltd. (TSX VENTURE: AXE) (the “Corporation”) a leading developer of high performance computing applications for the oil and gas industry, today announced that it has granted stock options to acquire up to 1,047,464 common shares of the Corporation to certain of its employees, officers and directors. The options have an exercise price of $0.10 per common share and expire on May 28th, 2018.
Of the 1,047,464 options granted, 305,333 shall vest on the first anniversary of the grant date, 305,333 shall vest on the second anniversary of the grant date, 305,334 shall vest on the third anniversary of the grant date, 65,732 shall vest when the share price of the common shares of the Corporation closes at or above $0.125 for ten consecutive trading days, and 65,732 shall vest when the share price of the common shares of the Corporation closes at or above $0.15 for ten consecutive trading days. The stock option grant is subject to regulatory approval.
About Acceleware
Acceleware develops and markets high performance computing (HPC) software solutions for the engineering and energy industries. These solutions allow customers to speed-up simulation and data processing algorithms, benefitting from HPC technologies such as multi-core CPUs and massively parallel many-core GPUs. Acceleware software, specialized HPC training and consulting services are deployed by companies worldwide including Boston Scientific, Samsung, LG, General Mills, RIM, Medtronic, Hitachi, FDA, Mitsubishi, Sony Ericsson, Fugro, DownUnder GeoSolutions and Rock Solid Images to speed up product design, analyze data and make better business decisions.
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.
Contacts:
Acceleware Ltd.
Geoff Clark
+1 (403) 249-9099
Acceleware Ltd.
435 10th Avenue SE
Calgary, AB, T2G 0W3, Canada
+1 (403) 249-9099
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