John Albright resigns from Axios Mobile Assets board

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By Ted Liu

Axios Mobile Assets Corp. (TSX-V: AXA) announced today that John Albright, Managing Partner of Relay Ventures, has resigned as a director of the company in order to focus on other ventures. The resignation is effective immediately.

Albright joined Axios Mobile Assets board of directors on December 21, 2015, following the closing of a $14 million Relay Ventures led private placement by Axios.

Relay Ventures through Relay Ventures Fund III L.P. and Relay Ventures Parallel Fund III L.P. subscribed 6,666,367 units at $0.90 per unit for an aggregate investment of $6 million. Axios stock peaked at $1.19 in March 2016 then was on a steady decline. Axios stock closed at $0.115 on January 10, 2017.

Relay Ventures is the largest shareholder, controlling approximately 15.7% of the issued and outstanding Axios common shares.

photo credit: Relay Ventures