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Relay Ventures Funds acquire securities of Axios Mobile Assets Corp

Relay Ventures Fund III and Relay Ventures Parallel Fund III have acquired over 6,666,667 units of Axios Mobile Assets Corp at a purchase price of CAD0.90 per unit on a private placement basis.

Relay Ventures Fund III acquired 6,366,367 units and Relay Ventures Parallel Fund III acquired 300,300 units. Each unit consists of one common share of Axios and one common share purchase warrant. Each Warrant will entitle the holder to subscribe for one Common Share at a price of CAD1.50 per share for a period of 36 months following the closing of the Offering, subject to anti-dilution adjustments. Prior to completion of the Offering, Relay did not own any securities of Axios.
 
The Relay Funds are both limited partnerships managed by their sole general partner, Relay Ventures Fund III. Relay GP is controlled by the holder of all of its voting shares, Relay Ventures Fund III Capital, all of the voting shares of which are held by Kevin Talbot and John Albright. Capital Inc indirectly controls the Common Shares and Warrants acquired by the Relay Funds. The Relay Funds, Relay Ventures Fund III and Relay Ventures Parallel Fund III, are joint actors. For purposes of Canadian securities laws, Relay GP and Capital Inc are deemed to be joint actors with the Relay Funds and Talbot and Albright are presumed to be joint actors with the Relay Funds.  

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