VANCOUVER, BRITISH COLUMBIA -- 11/02/09 --
AccelRate Power Systems Inc. (TSX VENTURE: APR)(FRANKFURT: KCG) (the "Company") is pleased to announce it has completed the debt settlement announced on October 19, 2009 in the amount of $52,000, with 1,040,000 shares of AccelRate having been issued to Reimar Koch in this regard. The referenced shares are subject to a four month hold period. TSX acceptance of the debt settlement was received on October 29, 2009.
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 new 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 statements 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.
Neither 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.
Contacts:
AccelRate Power Systems Inc.
Reimar Koch
(604) 688 8656
(604) 688 8654 (FAX)
info@accelrate.com
www.accelrate.com
