MISSISSAUGA, ON -- (Marketwired) -- 07/22/16 -- Axios Mobile Assets Corp. (TSX VENTURE: AXA) ("Axios" or the "Company") is pleased to announce that it has closed on a Cdn$3,000,000 principal debt financing. The indebtedness bears interest at a rate of 9.5% per annum payable quarterly in arrears and matures on July 22, 2019 (the "Maturity Date"). The terms of the debt provide that only interest is payable for the first 18 months and thereafter payments of principal and interest will be made.
The debt is subject to a four month hold period which expires on November 23, 2016.
The proceeds from the offering of Debentures will be used to grow the Company's inventory of pallets, for working capital and for general corporate purposes as the Company continues to expand and roll-out its pallet solution to new customers.
About Axios Mobile Assets
Axios Mobile Assets Corp. is a supply chain logistics company that is rapidly becoming a key supplier of pooled pallets, primarily to the perishable food industry. The Company's proprietary pallet-based tracking and information system delivers actionable data to help improve supply chain visibility and food safety. Unique attributes of the system include lower total cost, high biosecurity standards, real-time data and lighter weight. Axios is the only pallet pooler in the world with SQF certification in the Provision of Sanitation and Hygiene Services category.
Further information concerning the Company can be found at www.axiosma.com and www.sedar.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
CONTACT:
Richard MacDonald
President & CEO
Email Contact
877-762-9467 x601
Peter Murray
Shareholder Contact
Email Contact
778-839-8382
