SOURCE: Axios Mobile Assets Corp

May 04, 2011 16:19 ET

Axios Mobile Assets Signs Letter of Intent With Elba Laboratories

Provides Substantial Growth Opportunities for the Company in the Pharmaceutical Industry

NORTH YORK, ON--(Marketwire - May 4, 2011) - Axios Mobile Assets Corporation (CNSX: AXA) today announced it has signed a letter of intent to supply its proprietary bio-based trackable pallet and software technology to Elba Laboratories, a manufacturer of pharmaceutical and personal care products, for use in their logistics operations. Axios will supply pallets for an initial pilot program with Elba Laboratories.

"This letter of intent further solidifies our position as a market ready logistics solutions enabler," said Richard MacDonald, president and CEO of Axios. "Working with Elba Laboratories accelerates our integration into the pharmaceutical and personal care industry, where we see tremendous growth opportunities for Axios."

Elba Laboratories works with Fortune 500 health care manufacturers that market a broad spectrum of patient care products. A primary product line for Elba is Medpak™, a set of stable formulatory foundations that delivers a host of pharma-based product applications.

Developed specifically for the medical and clinical markets, Medpak products are developed, manufactured, tested, packaged and distributed from Elba's FDA registered and inspected facility. Fittingly, Axios' recent achievement, in accordance to the U.S. Federal Code of Regulation, of CFR 21 part 11 compliance based on its pallet's material composition, makes it a logical partner for Elba Laboratories.

"As a manufacturer in the pharmaceutical industry, it is excellent to see a company such as Axios that provides a solution which meets the ever-changing regulatory and operational standards of the industry," said Mike Frohlich, owner of Elba Laboratories. "Furthermore, the continuous traceability of the pallets in the Axios solution offers us a unique ability to track and manage our shipments with increased visibility."

Axios' bio-based composite pallet is derived from natural materials and has been meticulously engineered to help curtail phytosanitary control issues. Axios pallets contain no decaBDE (Decabromine), and are mold, mildew and insect resistant.

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 is gaining market acceptance based on its unique attributes: lower total cost, longer useful life, customized configurations and a revenue stream through carbon credit generation, monitoring and the monetizing of carbon emissions reductions. 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 National Stock Exchange (CNSX) under the symbol AXA.

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

Forward-LookingStatements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this report and the documents that we incorporate by reference, are forward-looking statements and can generally be identified by words such as "will," "allow," "outlook," or the negative of these terms, and other comparable terminology. Various risks and other factors 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 press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

Contact Information

  • Contacts:
    Michelle Culver
    Lambert, Edwards & Associates
    Phone: 248-519-1511
    Email: Email Contact

    Axios Mobile Assets
    Phone: 877-762-9467
    Email: Email Contact