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Acceleware Ltd V.AXE

Alternate Symbol(s):  ACWRF

Acceleware Ltd. is an advanced electromagnetic (EM) heating company with highly scalable EM solutions for large industrial applications. Its segments include High-Performance Computing (HPC) and RF Heating. The HPC segment sells proprietary high-performance computing software and related consulting services and training programs to the oil and gas industry. The RF Heating segment is engaged in research, development, and commercialization activities related to advanced electromagnetic heating using radio frequency (RF) energy. It is piloting RF XL, its patented low-cost, low-carbon EM thermal production technology for heavy oil and oil sands. It is also working with a consortium of potash partners on a pilot project using its patented and field proven Clean Tech Inverter (CTI) to decarbonize drying of potash ore and other minerals. It is actively developing partnerships for EM heating of other industrial applications in mining, steel, agriculture, cement, hydrogen and other clean fuels.


TSXV:AXE - Post by User

Post by ztransforms173on Nov 15, 2023 11:44am
152 Views
Post# 35736990

15 DAYS To SECURED NOTE DEBT Due Date: November 30, 2023

15 DAYS To SECURED NOTE DEBT Due Date: November 30, 2023On December 3, 2022, the Company signed a promissory note payable for $678,774, bearing interest at 9.45% per annum and secured with a general security agreement over the Company’s assets. The principal amount of the promissory note is included in other current liabilities on the statement of financial position. As of June 30, 2023, $726,574 of principal and accrued interest remains outstanding and the counterparty has agreed to amended terms. Repayment is expected on or about November 30, 2023 and the interest rate has increased to 11.85% per annum.

z173

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