/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, Dec. 12, 2019 /CNW/ - Axion Ventures Inc.
("Axion" or the "Company") (TSX VENTURE: AXV; OTCQX: AXNVF)
announces that it intends to complete a non-brokered private
placement (the "Offering") of up to 5,714,286 common shares
("Shares") at a price of $0.35 per
share for gross proceeds to the Company of up to $2,000,000. The Private Placement is contingent
upon TSX Venture approval.
Axion intends to use the net proceeds of the Offering for the
further development of the Company's recently announced
co-development video game, continued development of the Company's
flagship video game, Rising Fire, and general working capital
purposes.
All Shares issued pursuant to the Offering will be subject to a
four month hold period under applicable securities laws in
Canada. All of or a portion of
this Offering may be subject to finder's fees or commissions.
About Axion Ventures
Axion Ventures is an Investment Issuer with majority
ownership in Axion Games, an online video game development and
publishing company headquartered in Shanghai, China as
well as in True Axion Interactive Ltd., its video game
development company headquartered in Bangkok,
Thailand cofounded with True Corporation. Axion
Ventures also maintains holdings in other innovative
technology companies.
www.axionventures.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 release.
Cautionary Statement Regarding Forward-Looking
Information
This news release may contain "forward-looking information"
and "forward-looking statements" within the meaning of applicable
Canadian securities legislation. All information contained herein
that is not historical in nature may constitute forward-looking
information. Forward-looking statements herein include but are not
limited to statements regarding the Cross, the Private Placement,
size and pricing, the use of proceeds, receipt of requisite TSXV
and securities regulatory approvals, and are necessarily based upon
a number of assumptions that, while considered reasonable by
management, are inherently subject to business, market and economic
risks, uncertainties and contingencies that may cause actual
results, performance or achievements to be materially different
from those expressed or implied by forward-looking statements.
Except as required by law, the Company disclaims any obligation to
update or revise any forward-looking statements. Readers are
cautioned not to put undue reliance on these forward-looking
statements.
SOURCE Axion Ventures Inc.