SOURCE: Axios Mobile Assets Corp.

Axios Mobile Assets Corp.

March 01, 2017 10:29 ET

Axios Mobile Assets Announces Appointment of a Receiver and Director Resignations

MISSISSAUGA, ON--(Marketwired - Mar 1, 2017) - Axios Mobile Assets Corp. (TSX VENTURE: AXA) (NEX: AXA.H) ("Axios" or the "Company") today announced that the Ontario Superior Court of Justice has granted the application of the Company's senior secured lender, to appoint A. Farber and Partners (the "Receiver") as receiver and manager over the assets, undertakings and property of Axios and its subsidiaries. The Receiver is charged with managing the day to day affairs of the Company and its subsidiaries during the period of its appointment and should be contacted with respect to any questions concerning the assets and liabilities of Axios.

In addition, the Company also announced today that Dennis Bausch and James Taylor have resigned as directors of the Company and Richard MacDonald remains as the sole director of the Company for the time being.

For additional information please follow this link : http://www.farberfinancial.com/insolvency-engagements/axios-mobile-assets-inc

About Axios Mobile Assets

Axios Mobile Assets Corp. is a supply chain logistics company that is rapidly becoming a key supplier of pooled pallets, primarily to the perishable food industry. The Company's proprietary pallet-based tracking and information system delivers actionable data to help improve supply chain visibility and food safety. Unique attributes of the system include lower total cost, high biosecurity standards, real-time data and lighter weight. Axios is the only pallet pooler in the world with SQF certification in the Provision of Sanitation and Hygiene Services category.

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

NEITHER THE 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 NEWS RELEASE

Contact Information

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