Poseidon Capital Corp.

June 12, 2006 15:40 ET

Poseidon Capital Corp. Changes Name to Acceleware Corp.

CALGARY, ALBERTA--(CCNMatthews - June 12, 2006) - Poseidon Capital Corp. (the "Corporation") (TSX VENTURE:PSN) is pleased to announce that the name of the Corporation has been changed from Poseidon Capital Corp. to "Acceleware Corp.". The name change was approved by the shareholders of the Corporation at the Annual General and Special Meeting held on June 8, 2006.

Effective June 14, 2006, the Corporation's listing on the TSX Venture Exchange will be under the name "Acceleware Corp." with "AXE" as the new trading symbol.

About Acceleware

Acceleware develops and markets hardware accelerators used to reduce the run-times of high performance computing (HPC) applications such as cell-phone design, seismic data processing, nano-materials research, protein folding and drug discovery, reservoir simulation, lithography mask design, and others.

Acceleware products are distributed by Computer Aided Design (CAD) and Computer Aided Engineering (CAE) software companies to end-users at the world's largest companies in a wide range of industries. A simulation that would have otherwise taken eight hours, may only take 15 minutes with Acceleware's v1.5 generation of products. The v2.0 generation will be released in the summer of 2006. Acceleware has identified the following markets for its technology: electromagnetics; energy; biomedical; fluid dynamics; molecular chemistry; industrial; and military.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Acceleware Inc. & Poseidon Capital Corp.
    Sean Krakiwsky
    President & CEO
    (403) 210-9650 ext. 204