SOURCE: Axios Mobile Assets Corp.

Axios Mobile Assets Corp.

November 24, 2015 11:15 ET

Axios Announces Proposed Non-Brokered Private Placement of Units

MISSISSAUGA, ON--(Marketwired - Nov 24, 2015) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Axios Mobile Assets Corp. (CSE: AXA) (OTCQB: AXBSF) ("Axios" or the "Company") announced today that it is proposing to complete a non-brokered private placement to raise a minimum of CDN $13 million and a maximum of CDN$18 million. Proceeds from the financing will be used primarily to help the Company meet rising demand for its proprietary pallet-based logistics system from food producers in the United States and for general working capital purposes. 

The financing is proposed to be completed by way of an issuance of units (the "Units") at a price of CDN$0.90 per Unit. Each Unit will consist of one common share and one full common share purchase warrant (a "Warrant"), each Warrant entitling the holder to purchase one additional common share at a price of CDN$1.50 per share within 36 months of the closing date of the financing. The financing is expected to close in late December 2015. The securities issued under the offering will be issued pursuant to applicable prospectus exemptions and will be subject to a hold period of four months.

Completion of the financing is subject to receipt of all necessary regulatory approvals and certain other conditions.

About Axios Mobile Assets

Axios Mobile Assets Corp. is a supply chain logistics company. Axios is becoming a key supplier of pooled pallets primarily in the perishable food category. The Axios Solution, includes proprietary tracking and information systems that deliver actionable data that helps improve supply chain visibility and food safety. The Axios Solution is gaining market acceptance based on its unique attributes: lower total cost, lighter weight, sanitary pallets, and real time data. Axios was incorporated under the Business Corporations Act (Ontario) and is a reporting issuer in the Province of Ontario. Axios is traded on the Canadian Securities Exchange (CSE) under the symbol AXA, and on the OTCQB Venture Marketplace under the symbol AXBSF.

Further information concerning the Company can be found at www.axiosma.com, www.sedar.com and www.cnsx.ca.

Forward-Looking Statements
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the anticipated completion of the proposed private placement and the proceeds to the Company. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. The assumptions on which the forward looking statements contained herein rely include obtaining subscriptions from investors, the ability to complete the financing on its proposed terms, the ability to satisfy any conditions to the closing and the ability to receive regulatory approval for such financing. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold within the United States absent such registration or an applicable exemption from such registration requirements.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • CONTACT:
    Richard MacDonald
    President & CEO
    Email Contact
    877-762-9467 x601

    Peter Murray
    Shareholder Contact
    Email Contact
    778-839-8382