Axios Mobile Assets Corp. (OTCPK:AXBS.F) announced a non-brokered private placement of a maximum of 20,000,000 units at a price of CAD 0.9 per unit for minimum gross proceeds of up to CAD 13,000,000 and maximum gross proceeds of CAD 18,000,000 on November 24, 2015. Each unit consists of one share and one share purchase warrant.

Each warrant entitles the holder to purchase one common share of the company at an exercise price of CAD 1.5 per share for a period of 36 months from the date of closing. The securities to be issued are subject to a hold period of four months from the date of closing. The transaction is expected to close in late December 2015.

Completion of the transaction is subject to receipt of all necessary regulatory approvals and certain other conditions.