Acceleware Announces Grant of Stock Options
Calgary, Alberta - September 1, 2006 - Acceleware Corp. (the "Corporation" or "Acceleware") (trading symbol "AXE" TSXV) announces that, subject to regulatory approval, an aggregate of 423,142 options to acquire common shares of Acceleware were granted to certain of its directors and officers. The options have an exercise price of $0.44 per share and expire on September 1, 2011. One-third (1/3) of the options will vest immediately, one-third (1/3) will vest on September 1, 2007, and one-third (1/3) will vest on September 1, 2008.
Acceleware develops and markets hardware acceleration products used to reduce the run-times of High Performance Computing (HPC) applications such as cell-phone design, seismic data processing, printed circuit board design, drug discovery, nanophotonic communications device design, reservoir simulation, lithography mask design, and others.
Acceleware products are distributed by Computer Aided Design (CAD) and Computer Aided Engineering (CAE) software companies to end-users at the world's largest organizations in a wide range of industries. A simulation that would have otherwise taken eight hours, may only take 15 minutes with Acceleware's v2.0 generation of products. Acceleware has identified the following markets for its technology: electromagnetics; energy; biomedical; fluid dynamics; pharmaceuticals; industrial; and military.
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Charlee Forbrigger, Acceleware Corp.
+1 (403) 249-9099 ext. 287, firstname.lastname@example.org