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Axios Closes on $2.3 MM in an Oversubscribed $1.5MM Private Equity Placement(March 12, 2012)
TORONTO -- (Marketwire) -- 03/12/12 -- Axios Mobile Assets Corp. (CNSX: AXA) is pleased to announce that the Company closed a financing by way of a private placement. The total financing from the Private Placement is for 17,709,631 shares of the Company at a price of $0.13 per share for total proceeds of CDN $2,302,252. Axios did not pay any selling commissions or fees on the Private Placement. The net proceeds of $2,302,252 will be used for capital asset acquisitions and general working capital.
No exchange or regulating authority has approved or disapproved the contents of this press release.
AXIOS MOBILE ASSETS CORP. has 72,522,934 outstanding common shares (to be 90,232,565 upon closing of this transaction).
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.
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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