UPDATE: Axios Mobile Assets Announces Memorandum of UnderstandingWith Ongweoweh Corporation
NORTH YORK, ON, Apr 09, 2012 (Menafn - MARKETWIRE via COMTEX) --Richard MacDonald, president and CEO of Axios Mobile AssetsCorporation (cnsx:AXA), a leading logistics enabler featuring nextgeneration, composite pallet technology, today announced thatOngweoweh Corporation has made a significant investment in thecompany.
Axios and Ongweoweh have signed a Memorandum of Understanding,indicating that Ongweoweh will purchase guaranteed volumes of Axiospallets, in exchange for exclusive use of the Axios solution incertain defined verticals.
Ongweoweh is an industry leading pallet management and full-circlelogistical solutions provider, responsible for the distribution,management, and recovery and recycling of more than 30 millionpallets annually throughout North America.
"We are excited to partner with an industry leader like Ongweoweh onthe development of this unique combined solution for themarketplace," said MacDonald. "Not only does the recent significantOngweoweh investment in Axios and the Memorandum of Understandingfurther validate the Axios solution, it provides Axios thedistribution channels to truly enable the next evolution inlogistical change. Our solution has worldwide application and willoffer its users benefits never contemplated or achieved before."
The powerful and unique solution offers the additional opportunityfor mass adoption in the marketplace. Axios offers an FDA compliant,FM global certified pallet, software and technology suite thatprovides revenue generation through carbon credit monetization alongwith operational savings. Together with Ongweoweh's robust NorthAmerican distribution network and their combined track and tracecapability, customers and prospects will have the opportunity toutilize one of the most comprehensive logistics solutions availabletoday.
"Ongweoweh is committed to providing industry leading solutions tomeet the increased logistics demands of our customers," said DanielF. Bonamie, president and chief executive officer of Ongweoweh. "Wesee great potential in the partnership with Axios, and look forwardto demonstrating its exceptional value and capabilities to ourcustomers."
About Axios Mobile Assets Axios Mobile Assets Corp. is a logisticsenabler, featuring next generation, composite pallet technology,which can be bundled with its proprietary tracking and informationsystem that helps improve the value chain in the logistics market.The Axios bundled offering is gaining market acceptance based on itsunique attributes: lower total cost, longer useful life, customizedconfigurations and a revenue stream through carbon credit generation,monitoring and the monetizing of carbon emissions reductions. Axioswas incorporated under the Business Corporations Act (Ontario) and isa reporting issuer in the Province of Ontario. Axios is traded on theCanadian National Stock Exchange (CNSX) under the symbol AXA.
Further information about the company can be found atwww.axiosma.com, www.sedar.com and www.cnsx.ca.
About Ongweoweh Corporation Established in 1978, Ongweoweh Corp., aCertified Minority Business Enterprise, is a full service,sustainable pallet procurement management organization that servespublic and privately-owned companies across North America. Ongweowehutilizes industry-approved logistics software to enable the 30million pallets the company services each year to be tracked usingreal-time monitoring. Ongweoweh's unique service approach, includingits 500 service and product partners, reduces overall costs for itsclients by ensuring safe delivery of assets and enabling pallets tobe recovered, reused and recycled through its reverse logisticsprogram. Ongweoweh belongs to the National Minority SupplierDiversity Council (NMSDC) and the Sustainable Packaging Coalition(SPC).
Forward-Looking Statements This press release containsforward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995. All statements included inthis report and the documents that we incorporate by reference, areforward-looking statements and can generally be identified by wordssuch as "will," "allow," "outlook," or the negative of these terms,and other comparable terminology. Various risks and other factorscould cause actual results, and actual events that occur, to differmaterially from those contemplated by the forward looking statements,such as whether Axios and the pallet management company are able toagree on the terms of a definitive supply agreement, and whetherAxios is able to meet price, performance, quality and deliveryrequirements. Axios undertakes no obligation to update theinformation in this press release to reflect events or circumstancesafter the date hereof or to reflect the occurrence of anticipated orunanticipated events.
CONTACT:
Michelle Culver
Lambert, Edwards & Associates
Email Contact
248.519.1511
SOURCE: Axios Mobile Assets Corp
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