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19:05 | 19.10.2009
AccelRate Agrees to Issue Shares in Settlement of Debt
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Oct. 19, 2009) – AccelRate Power Systems Inc. (TSX VENTURE:APR)(FRANKFURT:KCG) (the “Company”) is pleased to announce it has made arrangements to issue 1,040,000 shares at $0.05 per share in satisfaction of $52,000.00 owed to a director who advanced those funds to the Company as a loan during 2007. All shares issued will be subject to a four month hold period from the date of issue. The proposed issue will not result in the creation of a control person. The proposed settlement of debt is subject to acceptance by the TSX Venture Exchange. AccelRate Power Systems Inc. is headquartered in Vancouver, BC. The Company’s shares trade on the TSX Venture Exchange (symbol APR), and on the Frankfurt Exchange (symbol KCG). Reimar Koch, President and CEO This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements. |
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