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Axion Ventures completes cross and private placement
Axion Ventures completes cross and private placement.
About this update from Axion Ventures Inc
[{"type":"text","content":"\n\n\n\nAxion Ventures completes cross and private placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nAxion Ventures completes cross and private placement\nCanada NewsWire\nVANCOUVER, March 21, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, March 21, 2019 /CNW/ - Axion Ventures Inc. (\"Axion Ventures\" or the \"Company\") (TSX VENTURE: AXV; OTCQX: AXNVF) announces completion of a cross distribution and private placement previously announced on February 22, 2019, pursuant to which Cern One Limited (\"Cern One\"), a control person of Axion Ventures, has sold 5,750,000 common shares at a price of $1.00 per share over the facilities of the TSX Venture Exchange Inc. (the \"TSXV\") (the \"Cross\") and used 100% of the proceeds to acquire the same number of common shares from the Company at the same price per share (the \"Private Placement\"). \n\n \n \n\n \nPI Financial Corp. provided capital markets advisory services to the Company in connection with the Cross, and a syndicate of agents, led by PI Financial and including Haywood Securities Inc., Beacon Securities Limited, Eight Capital, and Macquarie Capital Markets Canada Ltd. (together, the \"Agents\") provided customary agency services to the Company in connection with the Private Placement. The Company paid the Agents a cash commission equal to 6.0% of the aggregate proceeds of the Private Placement and no fees were paid by either Cern One or the Company in connection with the Cross.\nThe Company intends to use the net proceeds of the Private Placement for the development and continued commercial expansion of the Company's flagship game, Rising Fire, development and publishing of other titles in its portfolio, and general working capital purposes. The common shares issued pursuant to the Private Placement are subject to a four month hold period from the date of closing.\nThe issuance of common shares to Cern One pursuant to the Private Placement is considered to be a related party transaction subject to TSXV ...