|By Marketwired .||
|June 11, 2014 04:18 PM EDT||
VAUGHAN, ON -- (Marketwired) -- 06/11/14 -- Axios Mobile Assets Corporation (CSE: AXA) is pleased to announce the closing of an arms-length convertible debt financing for total gross proceeds of CDN $1,000,000. The debenture bears interest at 8% per annum interest, accrued and paid monthly, in arrears commencing with the first month of the second year. The debenture matures on September 3, 2016. The holder has the option to convert the debt to stock at $0.05 per common share at any time on or before the maturity date. Securities issued will be subject to a standard four-month hold period on resale. The proceeds of the financing are intended to be used to fund and launch pooling contracts, to purchase strategic assets, if available and the remainder, for general working capital purposes.
None of the securities sold in connection with this financing will be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
No exchange or regulating authority has approved or disapproved the contents of this press release.
About Axios Mobile Assets
Axios Mobile Assets Corp. is a logistics enabler, providing greater supply chain visibility. The Axios Solution features next generation lightweight composite pallet technology. The Axios Solution, when applied with its proprietary tracking and information system delivers actionable data and metrics for the users in the value chain. The Axios Solution is gaining market acceptance at Vendors and Retailers based on its unique attributes: lower total cost, longer useful life, and customized configurations. The Axios Solution will increase sustainability performance for its users through the generation and subsequent retirement of carbon credits. It is also possible to monetize the generated credits to provide users with an additional revenue stream, to assist in the overall reduction of cost within their supply chain. 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.
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.
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