TORONTO--(Marketwire - Dec 11, 2012) - Axios Mobile Assets Corp. (CNSX: AXA) ("Axios") is pleased to announce that it intends to complete a non-brokered private placement offering for gross proceeds of up to $4,000,000 (the "Offering"), with a 15% overallotment option.
The offering will comprise the sale of units ("Units") at a price of $0.33 per Unit. Each Unit will consist of one common share ("Common Share") of Axios and one-half non-transferable share purchase warrant ("Warrant"). Each full warrant entitles the holder to acquire an additional Common Share of Axios at a price of $0.55 at any time within 24 months of issuance. All transactions contemplated herein are subject to regulatory approval and completion of definitive documentation.
The securities comprising the Units will be offered to purchasers in Ontario in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation, and may also be offered on a private placement basis to qualified investors in other jurisdictions. The securities issued upon the closing of the Offering will be subject to a four-month hold period from the date of issue. The proceeds from the sale of each Unit will be used for the purchase of capital assets and for working capital purposes. Axios may pay finder's fees to registrants of 8.0% of the gross amount of money raised by such registrants in this Offering in cash and issue brokers' warrants for 8% of the aggregate value of the securities sold by such registrants in this Offering. Insiders of Axios may participate in the Offering. The closing of the Offering is expected to occur on or about December 31, 2012.
The securities being offered have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any U.S. State, and may not be offered or sold in the United States or to any "US Person" (as defined in Regulation S under the Securities Act of 1933) absent registration or an exemption from registration.
This news release does not constitute an offer to sell or a solicitation of an offer to purchase securities in the United States.
About Axios Mobile Assets
Axios Mobile Assets Corp. is a logistics enabler, featuring next generation, bio-based pallet technology, which can be bundled with its proprietary tracking and information system that helps improve the value chain in the logistics market. The Axios bundled offering provides the customer with efficiencies in total cost of ownership, useful life, customized configurations, and a revenue stream through carbon credit generation, monitoring and the monetizing of carbon emissions reductions.
Further information concerning the Company can be found at www.axiosma.com, www.sedar.com and www.cnsx.ca.
Forward Looking Statements
Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws. Various known or unknown risks and uncertainties could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements, such as whether Axios and the pallet management company are able to agree on the terms of a definitive supply agreement, and whether Axios is able to meet price, performance, quality and delivery requirements. Axios undertakes no obligation to update the information in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.
The Canadian National Stock Exchange (CNSX) has not approved nor disapproved the content of this news release. The CNSX does not accept responsibility for the adequacy or accuracy of this release.