Axion Announces Change of Auditor

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 27, 2017) - Axion Ventures Inc. (formerly Capstream Ventures Inc.) ("Axion" or the "Company") (TSX VENTURE:AXV) announces that, following completion of a tender process, it has changed its auditors from BDO Canada LLP to Mazars LLP effective March 17, 2017. At the request of the Company, BDO Canada LLP resigned as auditors of the Company effective March 17, 2017 and the board of directors of the Company appointed Mazars LLP as the Company's auditor effective March 17, 2017, until the next Annual General Meeting of the Company.

"Following a thorough selection process, we have concluded that Mazars LLP is best positioned to meet the evolving future needs of Axion," said John Todd Bonner, CEO and Chairman of the Company. "The board extends our thanks to BDO Canada LLP for the quality of expertise they have provided Axion over the years."

In accordance with National Instrument 51-102, the notice of change of auditor, together with the required letters from the former auditor and the successor auditor, have been reviewed by the audit committee and the board of directors and have been filed on SEDAR.

About Axion

Axion is an Investment Issuer with interests in: (i) Axion Games Limited, a private online video games development and publishing company with primary operations in Shanghai, China; (ii) Innovega Inc., a private display technology eyewear and contact lense company with offices in San Diego, California and Bellevue, Washington; and (iii) True Axion Games Ltd., a newly formed private video game company with primary operations in Bangkok, Thailand.

On behalf of Axion Ventures Inc.

John Todd Bonner, Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.