Acceleware Ltd. Announces the Election of Jim Boucher to the Board of Directors
07 June 2021 - 9:00PM
Acceleware® Ltd. (“Acceleware” or the “Company”) (TSXV: AXE), a
leading developer of technologies targeting low-cost and clean
extraction of heavy oil and bitumen, is very pleased to announce
that Jim Boucher was elected to the Company’s board of directors
(“the Board”) at the annual general meeting held on May 26, 2021.
A highly respected Indigenous leader, executive
and philanthropist, Jim Boucher continues to be a champion for
environmental and sustainable development, social prosperity and
economic inclusion for Indigenous Peoples.
Jim Boucher is a Cree and Dene from the Fort
McKay First Nation, and the former long standing elected Chief of
the Fort McKay First Nation, one of the most successful First
Nations in Canada. During his leadership, the
socio-economic-well-being of the community significantly improved.
Mr. Boucher has received more than a dozen notable awards and
honours throughout his career. Most recently, Mr. Boucher was
inducted into the 2020 Alberta Order of Excellence and received the
Commendation from the Governor General for Outstanding Service in
2016.
In 2020, Mr. Boucher co-founded the Saa Dene
Group of Companies, where as President he is working with a variety
of partners to pursue opportunities in multiple sectors with one
clear vision: to increase diversity, inclusion, and opportunity
through meaningful economic and social participation in the global
economy. Acceleware and Saa Dene Group formed the Acceleware |
Kisâstwêw partnership to actively pursue innovation and positive
change in respect to the environmental and sustainable performance
of the resource sector and support ideals important to Indigenous
Peoples.
We are extremely pleased to have a business
leader of Jim’s caliber on the board of directors and look forward
to working with him,” said Bohdan Romaniuk, Chair of the Board.
“Our shareholders voted overwhelmingly to add Jim to the board, and
we believe his collaborative approach and drive for responsible
resource development will serve them well.”
“I am pleased to join the Acceleware board of
directors at such a critical time,” said Jim Boucher. “More than
ever, the energy sector is focused on clean technologies and with
the commercial-scale testing of RF XL imminent at Marwayne, Alberta
underway, we are well positioned to offer a new solution to address
some of industries biggest challenges.”
Acceleware has granted Mr. Boucher stock options
to acquire up to 100,000 common shares of the Corporation. The
options have an exercise price of $0.30 per common share and will
expire on May 31, 2026. Of the 100,000 options granted, 50,000
shall vest on the first anniversary of the grant date, and 50,000
shall vest on the second anniversary of the grant date.
ABOUT ACCELEWARE:
Acceleware (www.acceleware.com) is an innovator
of clean-tech oil and gas technologies comprised of two business
units: Radio Frequency (RF) Enhanced Oil Recovery and Seismic
Imaging Software.
Acceleware is developing RF XL, its patented and
patent-pending low-cost, low-carbon production technology for heavy
oil and oil sands that is materially different from any heavy oil
recovery technique used today. Acceleware's vision is that
electrification of heavy oil and oil sands production can be made
possible through RF XL, supporting a transition to much cleaner
energy production that can quickly bend the emissions curve
downward. Further, Acceleware’s RF XL technology could be a key
component of an end-to-end integrated carbon management system that
can eliminate greenhouse gas (GHG) emissions associated with heavy
oil and oil sands production, whether for fossil fuels, or for
future clean bitumen by-products such as petrochemicals, carbon
fibre, and blue or green hydrogen production. RF XL uses no water,
requires no solvent, has a small physical footprint, can be
redeployed from site to site, and can be applied to a multitude of
reservoir types. In shallow oil sands implementations, no tailings
ponds will be required.
Acceleware has partnered with Saa Dene Group
(co-founded by Jim Boucher) to create
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”.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
described in this release in the United States. The securities have
not been and will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), or
any state securities laws and may not be offered or sold within the
United States or to U.S. persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
DISCLAIMER
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
For more information:Geoff ClarkTel: +1 (403)
249-9099geoff.clark@acceleware.com
Acceleware Ltd.435 10th Avenue SECalgary, AB,
T2G 0W3CanadaTel: +1 (403) 249-9099www.acceleware.com
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