Axios Mobile Assets Corp. (CSE: AXA) (OTCQB: AXBSF) (“Axios” or the “Company”) announced today that it is proposing to complete a non-brokered private placement to raise a minimum of CDN $13 million and a maximum of CDN$18 million. Proceeds from the financing will be used primarily to help the Company meet rising demand for its proprietary pallet-based logistics system from food producers in the United States and for general working capital purposes.
The financing is proposed to be completed by way of an issuance of units (the “Units”) at a price of CDN$0.90 per Unit. Each Unit will consist of one common share and one full common share purchase warrant (a “Warrant”), each Warrant entitling the holder to purchase one additional common share at a price of CDN$1.50 per share within 36 months of the closing date of the financing. The financing is expected to close in late December 2015. The securities issued under the offering will be issued pursuant to applicable prospectus exemptions and will be subject to a hold period of four months.
Completion of the financing is subject to receipt of all necessary regulatory approvals and certain other conditions.
About Axios Mobile Assets
Axios Mobile Assets Corp. is a supply chain logistics company. Axios is becoming a key supplier of pooled pallets primarily in the perishable food category. The Axios Solution, includes proprietary tracking and information systems that deliver actionable data that helps improve supply chain visibility and food safety. The Axios Solution is gaining market acceptance based on its unique attributes: lower total cost, lighter weight, sanitary pallets, and real time data. 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, and on the OTCQB Venture Marketplace under the symbol AXBSF.