Ongweoweh Corp.

May 22, 2013 14:27 ET

Ongweoweh Corp. Announces Acquisition of Shares of Axios Mobile Assets Corp.

ITHACA, NEW YORK--(Marketwired - May 22, 2013) - Ongweoweh Corp. announces that it acquired ownership of 11,538,461 common shares ("Common Shares") of the Axios Mobile Assets Corp. (the "Issuer") pursuant to a private placement of the Issuer on March 12, 2012, representing approximately 12.8% of the total issued and outstanding Common Shares, based on there being 90,232,565 Common Shares of the Issuer outstanding as of March 12, 2012. Following the March 12, 2012 private placement, Ongweoweh owned 11,955,128 Common Shares, representing approximately 13.2% of the total issued and outstanding Common Shares of the Issuer, based on there being 90,232,565 Common Shares of the Issuer outstanding as of March 12, 2012.

Ongweoweh acquired 11,538,461 Common Shares at a price of $0.13 per Common Share for total consideration of $1.5 million to the Issuer.

Ongweoweh acquired the Common Shares for investment purposes. Ongweoweh does not intend to acquire ownership of, or control over, any additional securities of the Issuer. Ongweoweh may in the future take such actions with respect to its investment in the Issuer as it deems appropriate including, without limitation, selling or otherwise disposing of some or all of the Common Shares of the Issuer.

For additional information on this press release, or to obtain a copy of the corresponding report required by securities legislation, please contact Ongweoweh Corp.

Contact Information

  • Ongweoweh Corp.
    Daniel F Bonamie, President/CEO
    (607) 266-7070
    (607) 266-7085 (FAX)