Acceleware Awarded $3 Million in Non-Dilutive Funding from The Clean Resource Innovation Network - Seite 3

Acceleware and Saa Dene Group (co-founded by Jim Boucher) have created Acceleware | Kisâstwêw to raise the profile, adoption, and value of Acceleware technologies. The shared vision of the partnership is to improve the environmental and economic performance of the energy sector by supporting ideals that are important to Indigenous peoples, including respect for land, water, and clean air.

The Company’s seismic imaging software solutions are state-of-the-art for high fidelity imaging, providing the most accurate and advanced imaging available for oil exploration in complex geologies. Acceleware is a public company listed on Canada’s TSX Venture Exchange under the trading symbol “AXE”.

Disclaimers

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations or negatives of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might”, “shall” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, statements relating to the benefits of RF XL, future operation of the Pilot, prospective performance of the Company, the status and advancement upgrades and repairs, the anticipated development, application and market potential of CTI, the receipt of regulatory approvals for the Private Placement (including TSXV approvals) and the timing thereof, statutory hold periods, the terms and conditions of the Private Placement, the Closing Date for the Private Placement, the anticipated use of proceeds from the Private Placement and the participation of related parties in the Private Placement. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The material facts and assumptions include obtaining approval of the TSXV of the proposed Private Placement, the availability of certain prospectus exemptions in respect of the Private Placement and the intended use of proceeds remaining in the best interests of the Company. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. The Company cautions the reader that the above list of risk factors is not exhaustive and additional risk factors risk factors are described in detail in Acceleware’s continuous disclosure documents, which are filed on SEDAR at www.sedar.com. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.