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UPDATE: Axios Mobile Assets Announces Memorandum of Understanding With Ongweoweh Corporation(April 09, 2012)
NORTH YORK, ON -- (Marketwire) -- 04/09/12 -- Richard MacDonald, president and CEO of Axios Mobile Assets Corporation (CNSX: AXA), a leading logistics enabler featuring next generation, composite pallet technology, today announced that Ongweoweh Corporation has made a significant investment in the company.
Axios and Ongweoweh have signed a Memorandum of Understanding, indicating that Ongweoweh will purchase guaranteed volumes of Axios pallets, in exchange for exclusive use of the Axios solution in certain defined verticals.
Ongweoweh is an industry leading pallet management and full-circle logistical solutions provider, responsible for the distribution, management, and recovery and recycling of more than 30 million pallets annually throughout North America.
"We are excited to partner with an industry leader like Ongweoweh on the development of this unique combined solution for the marketplace," said MacDonald. "Not only does the recent significant Ongweoweh investment in Axios and the Memorandum of Understanding further validate the Axios solution, it provides Axios the distribution channels to truly enable the next evolution in logistical change. Our solution has worldwide application and will offer its users benefits never contemplated or achieved before."
The powerful and unique solution offers the additional opportunity for mass adoption in the marketplace. Axios offers an FDA compliant, FM global certified pallet, software and technology suite that provides revenue generation through carbon credit monetization along with operational savings. Together with Ongweoweh's robust North American distribution network and their combined track and trace capability, customers and prospects will have the opportunity to utilize one of the most comprehensive logistics solutions available today.
"Ongweoweh is committed to providing industry leading solutions to meet the increased logistics demands of our customers," said Daniel F. Bonamie, president and chief executive officer of Ongweoweh. "We see great potential in the partnership with Axios, and look forward to demonstrating its exceptional value and capabilities to our customers."
About Axios Mobile Assets
Axios Mobile Assets Corp. is a logistics enabler, featuring next generation, composite 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.
About Ongweoweh Corporation
Established in 1978, Ongweoweh Corp., a Certified Minority Business Enterprise, is a full service, sustainable pallet procurement management organization that serves public and privately-owned companies across North America. Ongweoweh utilizes industry-approved logistics software to enable the 30 million pallets the company services each year to be tracked using real-time monitoring. Ongweoweh's unique service approach, including its 500+ service and product partners, reduces overall costs for its clients by ensuring safe delivery of assets and enabling pallets to be recovered, reused and recycled through its reverse logistics program. Ongweoweh belongs to the National Minority Supplier Diversity Council (NMSDC) and the Sustainable Packaging Coalition (SPC).
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.
Lambert, Edwards & Associates
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