Axion Announces Change of Auditor

VANCOUVER, March 29, 2018 /CNW/ - Axion Ventures Inc. ("Axion Ventures" or the "Company") (TSX VENTURE: AXV) announces that it has changed its auditor from Mazars LLP (the "Former Auditor") to BDO Limited (the "Successor Auditor") effective March 27, 2018. At the request of the Company, the Former Auditor resigned as auditor of the Company effective March 27, 2018 and the board of directors of the Company appointed the Successor Auditor as the new auditor until the next Annual General Meeting of the Company.

"As our Company continues to pursue international expansion, we believe BDO is best positioned to meet Axion Ventures' evolving needs," said John Todd Bonner, CEO and Chairman of the Company.

There are no "disagreements" or "unresolved issues" (as those terms are defined in National Instrument 51-102 Continuous Disclosure Obligations ("NI 51-102")) in connection with the change of auditor.

The resignation of Mazars is considered a "reportable event" with respect to a "consultation" (as those terms are defined in NI 51-102) in connection with the change of auditor relating to the British Columbia Securities Commission's conclusion that the Former Auditor did not meet the professional standards relating to independence, as the Former Auditor provided extensive accounting assistance relating to the Company's financial statements for the year ended December 31, 2016. To resolve the matter, the Company intends to refile its annual financial statements for the year ended December 31, 2016 to be audited by BDO. For more information regarding the foregoing, please refer to the Company's press release dated February 9, 2018 and the reporting package filed on SEDAR, at www.sedar.com, which consists of the notice of change of auditor, together with the required letters from the Former Auditor and the Successor Auditor.

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 and 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.

SOURCE Axion Ventures Inc.