SOURCE: Axiom Corp.

February 23, 2015 22:57 ET

Axiom Corp. to Enter Multi-Billion Dollar Global Recyclable Packaging Sector -- Signs Definitive Agreement to Acquire PaperNuts Corporation

NAIROBI, KENYA--(Marketwired - Feb 23, 2015) -  Axiom Corp. (OTC PINK: AXMM) ("Axiom" or the "Company") is pleased to announce that it has entered into a Definitive Agreement to acquire PaperNuts Corporation, a Canadian-based developer and marketer of innovative and environmentally friendly packaging solutions. Following the closing of the transaction, PaperNuts Corporation will become a wholly-owned subsidiary of Axiom Corp. 

PaperNuts Corporation holds the global rights to proprietary technology and intellectual property developed in Finland to provide an environmentally friendly alternative to obsolete and harmful traditional loose-fill packaging options. PaperNuts delivers a loose-fill packaging solution that competes directly with polystyrene foam plastic "peanut" fillers, bubble wrap, air pillows, crumpled paper, foam-in-place, and corn starch peanut products. 

PaperNuts are a cost-effective green alternative to competitive fillers, made from 100% recycled paper that was destined for landfill, and are both biodegradable and fully recyclable after use. PaperNuts also provide superior product protection, are clean and easy to handle, non-polluting, and low in particulates. The patented "PaperNuts Converter" machine used to create PaperNuts requires only 30 sq. ft. of floor space to operate and gives small, medium, and large scale businesses the capability to produce on-demand on-site packaging that reduces the shipping and storage costs associated with competitive products.

Kranti Kotni, CEO of Axiom Corp., commented, "Around the world there has been a big push for increased regulations on the use of loose-fill packaging material, especially polystyrene peanuts. The movement towards banning these types of environmentally destructive products represents a clear business opportunity for PaperNuts as more and more governments, companies, and consumers insist on adhering to stricter green guidelines for responsible packaging."

Kotni concluded, "Experts have estimated that the global recyclable packaging industry is poised for dramatic growth over the next several years, so the opportunity for the expansion of the PaperNuts brand within this sector appears to be truly enormous. I look forward to completing the acquisition of PaperNuts shortly."

The Company anticipates that the acquisition of PaperNuts Corporation will be completed in approximately 7-10 business days. Following the closing of the transaction, the Company intends to change its name from "Axiom Corp." to "PaperNuts Limited" to better represent its new business focus and the PaperNuts brand.

For additional information regarding PaperNuts Corporation, visit www.papernuts.ca.

Disclaimer/Safe Harbor: This Axiom Corp. news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include failure to meet schedule or performance requirements of the Company's contracts, the Company's ability to raise sufficient development and working capital, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur as planned or at all.

Contact Information

  • Contact:
    Axiom Corp.
    Phone: +254 736 521567