Acceleware Withdraws Short Form Prospectus Offering
Calgary, Alberta - July 18, 2008 -Acceleware Corp.(the "Corporation" or "Acceleware")(trading symbol "AXE" TSXV), announces that it will not continue with the short form prospectus offering previously announced in a press release dated June 11, 2008 due to market conditions.
Acceleware develops and markets solutions that enable software vendors to leverage heterogeneous, multi-core processing hardware without rewriting their applications for parallel computing. This acceleration middleware allows customers to speed-up simulation and data processing algorithms, benefiting from high performance computing technologies available in the market such as multiple-core CPUs, GPUs or other acceleration hardware. Acceleware's expertise involves writing highly parallel software for many different (high-performance computing) hardware platforms.
Acceleware solutions are deployed by companies worldwide such as Philips, Boston Scientific, Samsung, Eli Lilly, General Mills, Nokia, LG, RIM, Kyocera, Medtronic, Hitachi, Fujifilm, FDA, Mitsubishi, Sony Ericsson, AGC, NTT DoCoMo, and REnault to speed up product design, analyze data and make better business decisions in areas such as electronic manufacturing, oil & gas, medical and security imaging, industrial and consumer products, and academic research. For more information about Acceleware, please visit www.acceleware.com.
Acceleware is a public company on Canada's TSX Venture Exchange under the trading symbol AXE.
Charlee Forbrigger, Acceleware Corp.
+1 (403) 249-9099 ext. 287, firstname.lastname@example.org
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This document may contain "forward-looking information". These statements to future events or the Corporation's future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, projections of market prices and costs; potential benefits to Acceleware customers, including cost savings and increases to cash flow and productivity; advantages to using Acceleware's products and services; ease and efficiency of implementing Acceleware's products and services' supply and demand for Acceleware's primary products and services; and expectations regarding Acceleware's ability to raise capital and protect, continually exploit and continually develop its products and services, as well as those factors discussed in the section entitled "Risk Factors" in the Corporation's Annual Information Form dated May 26, 2008 and in the "Risk Factors" section of the preliminary prospectus relating to the Offering. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.