Axios Named One of Canada’s 20 Most Innovative Public Technology Companies by Canadian Innovation Exchange
Axios Mobile Assets has been named one of the 20 most innovative public technology companies in Canada for 2015 by the Canadian Innovation Exchange (“CIX”). The award is presented to Canadian public companies with particularly innovative technology products backed by strong management, excellent service standards and sound business models.
“Axios is honored to be recognized by the Canadian Innovation Exchange and wishes to thank the organization for this recognition,” said Axios Mobile Assets President and CEO Richard MacDonald. “Our team succeeded in combining several existing technologies to create a transportation logistics solution that was brand new to the market. The Axios system addresses multiple problems within the supply chain for perishable goods, and high-value transport sensitive commodities and is experiencing rapid adoption by food producers in the United States.”
Benefits of the Axios system include a reduction in food spoilage and significantly enhanced biosecurity standards. The system utilizes sensor-equipped pallets and an easy-to-use client dashboard to monitor location, temperature, vibration and other conditions while food is in shipment.
Richard MacDonald delivered a presentation about the Axios Solution and the outlook for the Company at the CIX Public Investor Day on Wednesday, November 18. The event was held at MaRS Discovery District in downtown Toronto.
Axios Announces Proposed Non-Brokered Private Placement of Units
Also from Axios Mobile Assets Corp. (CSE:AXA; OTCQB:AXBSF) (“Axios” or the “Company”), the company 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.