Acceleware Announces Departure of Chief Financial Officer
29 November 2024 - 2:20AM
Acceleware Ltd. (“Acceleware” or the “Company”) (TSX-V: AXE), a
leading innovator of transformative technologies targeting the
decarbonization of industrial process heat, today announced the
pending departure of Ms. Tracy Grierson, its Chief Financial
Officer, to pursue other career opportunities, after nearly six
years of dedicated service with the Company.
Ms. Grierson has served as Acceleware’s fractional CFO since
2019. She will assist the Company to ensure minimal disruption and
a successful transition of her duties prior to her departure,
slated for mid-December.
Acceleware President and CEO, Geoff Clark, stated, “Tracy has
been a rock-solid performer as CFO and a great asset to the
Company. She will be missed by her fellow employees and Executive
team members.” Board Chair Bohdan Romaniuk added that the Board
“was likewise sad to hear of Ms. Grierson‘s planned departure from
the Company, but is very grateful to have benefited from her
contributions to the team over these past several years. We wish
her all the best in her future endeavors.”
Said Ms. Grierson, “I am proud of what we have accomplished in
my years here, and this was not an easy decision to make. It has
been an absolute pleasure working at Acceleware. I will miss
working with the team, and wish the Company all the best.”
If the Company is unable to find a replacement for Ms. Grierson
prior to her departure, then Acceleware’s Chief Operating Officer,
Mike Tourigny, will assume the CFO’s duties on an interim and
temporary basis until a new CFO is hired. Mr. Tourigny, a 30-year
veteran of the ICT industry, holds an MBA from the University of
Calgary and a Bachelor of Commerce in Finance from the University
of British Columbia. Mr. Tourigny is financially literate, as
defined in National Instrument 52-110 – Audit Committees and
required by TSXV Policy 3.1.
About AccelewareAcceleware is an advanced
electromagnetic (EM) heating company with highly scalable EM
solutions for large industrial applications. The Company’s
solutions provide an opportunity to economically electrify and
decarbonize industrial process heat applications previously
considered difficult to abate, which could have a significant
impact on global GHG emissions.
Acceleware is piloting RF XL, its patented
low-cost, low-carbon EM thermal production technology for heavy oil
and oil sands that is materially different from any heavy oil
recovery technique used today. The Company is also working with a
consortium of world-class 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. Acceleware is
actively developing partnerships for EM heating of other industrial
applications in mining, steel, agriculture, cement, hydrogen and
other clean fuels.
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 partnership is
intended to improve the environmental and economic performance of
industry by supporting ideals that are important to Indigenous
peoples, including respect for land, water, and clean air.
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 departure
date of the CFO. 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 projected departure date. 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.
Neither the TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this
release.
For further information:Geoff Clark, CEOTel: +1
(403) 249-9099geoff.clark@acceleware.com
Acceleware Ltd.435 10th Avenue SECalgary, AB,
T2G 0W3 CanadaTel: +1 (403) 249-9099www.acceleware.com
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