AXQP Inc.
NEX BOARD : PIV.H

March 04, 2009 16:07 ET

AXQP Inc.: Change of Board of Directors and Sale of Shares

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2009) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

AXQP Inc. ("AXQP" or "the Company") wishes to announce that subject to regulatory approval, Basil Pantages, Mike Stark, Herbert Duerr and Mark Billings were appointed as directors to fill vacancies left by the recent resignations of Nan Le, George Moumos, Robert Marshall, Eric Leslie and George Tsafalas. The Board also approved the appointment of Basil Pantages as Chief Executive Officer and President, and Richard Barnett as Chief Financial Officer and Secretary of the Corporation, effective February 26, 2008.

The Corporation also announced that 5 shareholders of the Corporation had sold a total of 8,050,000 common shares of the Corporation (or approximately 44.5%% of the issued and outstanding shares) to the new directors and several associates pursuant to a Share Purchase Agreement dated December 24, 2008 for total sale proceeds of $201,250.

AXQP is a NEX listed company (NEX:PIV.H).

Basil Pantages, President and CEO

This press release may contain forward-looking statements including, without limitation, financial and business prospects and financial outlooks, and such statements may be forward-looking statements which reflect management's expectations regarding future plans and intentions, growth, results of operations, performance and business prospects and opportunities. Words such as "may", "will", "should", "could", "anticipate", "believe", "expect", "intend", "plan", "potential", "continue", and similar expressions have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management. Forward-looking statements involve significant risk and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forwardlooking statements including, but not limited to, changes in general economic and market conditions and other risk factors. Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, management cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof.

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 release.

Contact Information

  • AXQP Inc.
    Basil Pantages
    President and CEO
    604-718-2800