TORONTO, Sept. 7, 2016 /CNW/ - Axis Auto Finance Inc. ("Axis" or
the "Company"), (TSXV: AXS) a
non-prime lender servicing the Canadian used vehicle market, announced today that Mr. Richard Lloyd
has been appointed as Chief Financial Officer ("CFO") of the Company. Mr. Lloyd's appointment follows several months of extensive
candidate selection process with the assistance of an executive recruiting agency.
Mr. Lloyd is a Chartered Professional Accountant (CPA) with over 20 years of finance and operations experience. He spent 7 years
as Director of Operations and Finance at Travelers Leasing Corporation (acquired by Bank of Nova
Scotia in 2007 and re-branded as Scotia Dealer Advantage). At Travelers (and later at Scotia Dealer Advantage), Mr. Lloyd
led the development and build out of the operations team that grew the business from a mid-size regional lender to one of the
largest near-prime lenders in Canada. As part of the Travelers leadership team, Mr. Lloyd played
an integral part in expanding the business to a nation-wide foot print and completing several acquisitions.
"We are very pleased to have Mr. Lloyd join Axis as CFO. His skill set and experience should only strengthen Axis' continued
growth and allow us to increase efficiency and scalability across all business disciplines. We believe that Mr. Lloyd can make a
meaningful contribution to the success of Axis and I look forward to working with him in the future" said Ilja Troitschanski, CEO
of Axis.
Grant of Stock Options
Concurrently with his appointment as CFO, the Board of Directors of the Company has granted Mr. Lloyd, five other employees as
well as two members of the Board of Directors of Axis a total of 750,000 stock options at an exercise price of $0.70 per share. The options vest in equal installments over 24 months and expire seven years from the grant
date.
About Axis Auto Finance
Axis provides non-standard financing options targeting roughly 30% of Canadians (Source: Equifax) that do not qualify for
traditional bank-type financing for their used vehicle purchase. Through personalized service and a commitment to building strong,
long-lasting relationships with dealer partners, Axis continues to be one of Canada's
fastest-growing auto-financing companies.
Further information on the Company can be found at www.axisautofinance.ca.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the Exchange nor
its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy
or accuracy of this release.
Certain information in this press release may constitute forward-looking information. This information is based on
current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward
looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying
risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, available at www.sedar.com.
SOURCE Axis Auto Finance Inc.
Image with caption: "Axis Auto Finance Inc. (CNW Group/Axis Auto Finance Inc.)". Image available at: http://photos.newswire.ca/images/download/20160907_C2888_PHOTO_EN_767083.jpg
