SOURCE: Axios Mobile Assets Corp.

Axios Mobile Assets Corp.

December 03, 2015 16:00 ET

Axios Receives $3 Million Loan From Export Development Canada

MISSISSAUGA, ON--(Marketwired - Dec 3, 2015) - Axios Mobile Assets (CSE: AXA) (OTCQB: AXBSF) ("Axios" or the "Company") announced today that it has secured a loan in the amount of $3 million from Export Development Canada (EDC). Proceeds will be used in part to help fund production of the Company's sensor-equipped pallets at its manufacturing facility in Guelph, Ontario and to repay approximately $2 million of indebtedness, which repayment was made immediately following closing of the loan.

"Axios does a substantial amount of export business and that made us a good fit with EDC," said Richard MacDonald, President and CEO of Axios Mobile Assets. "Having the right balance of debt and equity financing is important and we are thankful for EDC's support."

The three-year loan carries an interest rate equal to the Canadian prime lending rate plus 8%. 

Export Development Canada is Canada's trade finance agency, providing financing and insurance solutions locally and around the world to help Canadian companies respond to international business opportunities.

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 press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Certain 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 the Company's ability to complete its planned production of pallets. 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.

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