VANCOUVER, May 28, 2018 /CNW/ - Axion Ventures Inc. ("Axion
Ventures" or the "Company") (TSX VENTURE: AXV) today provided an update with respect to the previously announced management cease
trade order (the "MCTO") issued by the British Columbia Securities Commission on May 1, 2018. The
MCTO was issued in connection with the delay by the Company in filing its annual financial statements, management's discussion
and analysis and related officer certifications for the financial year ended December 31, 2017
(collectively, the "Annual Filings") beyond the required filing deadline under Parts 4 and 5 of National Instrument 51-102
Continuous Disclosure Obligations and pursuant to National Instrument 52-109 Certification of Disclosure in Issuer's
Annual and Interim Filings, being April 30, 2018.
The Company is working closely with its auditor and expects to file the Annual Filings on or before May
31, 2018. The Company does not anticipate any delay in filing its interim financial statements, management's discussion
and analysis, and the related officer certifications for the financial period ended March 31,
2018.
The Company is providing this status update in accordance with National Policy 12-203 Management Cease Trade Orders
("NP 12-203"). The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203,
including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in
default. The Company confirms as of the date of this news release that there has been no material change in the information
contained in the default announcement issued May 1, 2018 and there is no other material information
concerning the affairs of the Company that has not been generally disclosed.
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., a 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
Axion Ventures Inc. is listed on the TSX Venture Exchange under the symbol (TSXV: AXV).
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.
Axion Ventures Inc.
John Todd Bonner
Chief Executive Officer
(604) 687-7767
Cautionary Statement Regarding Forward-Looking Information
Certain statements contained in this press release may constitute forward-looking information. These statements relate to
future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected",
"estimated", "proposed" and similar expressions and statements relating to matters that are not historical facts are intended to
identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of
such future events. Such forward-looking information are subject to risks and uncertainties that may cause actual results,
performance or developments to differ materially from those contained in the statements. In particular, this release contains
forward-looking information relating to the anticipated filing dates of the financial statements. Various assumptions or factors
are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those
assumptions and factors are based on information currently available to the Company. The forward-looking information contained in
this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of
the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking
information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE Axion Ventures Inc.
View original content with multimedia: http://www.newswire.ca/en/releases/archive/May2018/28/c8673.html