$ 2M $0.23 Per Unit FINANCING Expected To CLOSE Next MONDAY- Financings
* On June 6, 2023, Acceleware announced a non-brokered private placement of units at a price of 23 cents per unit for gross proceeds of up to $2-million. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one common share of Acceleware at 30 cents for a period of 24 months from the date of the issuance of the warrant. In the event the common shares trade at a closing price at or greater than 69 cents per common share for a period of 30 consecutive trading days, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof, and in such case, the warrants will expire on the 30th day after the date on which such notice is given. The offering is expected to close on Aug. 21, 2023.
- Workover Operations
The Acceleware team commenced final on-site workover operations on Aug. 8, 2023, after completion in the first half of 2023 extensive design, procurement, shop testing and derisking of repaired parts, upgraded components, run-in-hole procedures, and deployment tooling. Based on initial progress, Acceleware now anticipates this stage of the operation to take approximately four to six weeks, contingent upon weather and other factors. Power-up and heating are expected to commence shortly thereafter.
- so the Workover Operations went from two (2) to four (4) weeks to NOW from FOUR (4) to SIX (6) weeks
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