TORONTO, Aug. 8, 2017 /CNW/ - Axis Auto Finance Inc. ("Axis" or the "Company"), (TSXV: AXIS) an alternative lender servicing the Canadian used vehicle market, announced today that it has changed its auditor from MNP LLP ("Former Auditor") to Ernst & Young LLP ("Successor Auditor" or "E&Y").
At the request of the Company, the Former Auditor resigned as auditor of the Company effective July 20, 2017 and the Successor Auditor has been appointed on the same date. The Company is grateful to MNP LLP for its services during the past three years.
There were no reservations in the Former Auditor's reports on any of the Company's audited financial statements and no reportable events between the Company and the Former Auditor.
"We look forward to working with E&Y on a number of potential strategic initiatives," said Ilja Troitschanski, CEO of Axis. "The first order of business being the audit of the recently completed fiscal 2017," he added.
The Company's Audit Committee and Board of Directors have approved the resignation of the Former Auditor and the appointment of E&Y. Pursuant to National Instrument 51-102 - Continuous Disclosure Obligations, the notice of change of auditor, together with the letter from the Former Auditor and the letter from the Successor Auditor have been reviewed by the Company's Audit Committee and Board of Directors and are available under the Company's profile at www.sedar.com.
About Axis Auto Finance
Axis provides non-standard financing options targeting roughly 30% of Canadians (Source: Equifax) that do not qualify for traditional bank-type financing for their used vehicle purchase. Through personalized service and a commitment to building strong, long-lasting relationships with dealer partners, Axis continues to be one of Canada's fastest-growing auto-financing companies.
Further information on the Company can be found at www.axisautofinance.ca.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, available at www.sedar.com.
SOURCE Axis Auto Finance Inc.
For further information: Axis Auto Finance Inc.: Ilja Troitschanski, CEO, (416) 633-5626, [email protected]