AccelRate Power Systems, the leader in "High-Speed" battery charging technology, announced today that it has completed a non-brokered private placement of 166,667 units announced on April 25, 2008, realizing gross proceeds of $30,000. Each unit is comprised of one common share and one-half warrant, each whole warrant exercisable to purchase one additional common share in the capital of the company at $0.22 until October 25, 2009.
All shares issued in connection with the private placement and any shares issued on exercise of warrants comprised in those units will be subject to a four-month hold period expiring October 25, 2008.
AccelRate Power Systems is headquartered in Vancouver, BC. AccelRate's shares trade on the TSX Venture Exchange (symbol APS), and on the Frankfurt Exchange (symbol KCG).
For further information contact:
Reimar KochPresident and CEO (604) 688-8656