TORONTO, Jan. 12, 2017 /CNW/ - Axis Auto Finance Inc. ("Axis" or the "Company"), (TSXV: AXIS, formerly AXS) an alternative lender servicing the Canadian used vehicle market, announced that effective today its new trading symbol will be AXIS.
"We welcome the adaptation of four letter trading symbols by the TSX Venture Exchange (the "TSXV") and want to take advantage of matching the trading symbol to the actual name of the business, which will allow us to streamline all marketing efforts and eliminate potential confusion in the future," said Ilja Troitschanski, CEO of Axis.
Axis is also pleased to announce that it has retained Mackie Research Capital Corporation ("Mackie") to provide market making services to the Company in compliance with the policies and guidelines of the TSXV and other applicable legislation. Mackie will trade shares of Axis on the TSXV for the purposes of maintaining a reasonable market and improving the liquidity of Axis' common shares.
The agreement between Mackie and the Company is for a minimum of six months and the Company has agreed to pay Mackie $4,000 per month during the term, payable quarterly in advance. The Company and Mackie act at arm's length, there are no performance factors contained in the agreement between Mackie and the Company and Mackie will not receive any shares or options from the Company as compensation for services it will render.
About Mackie Research Capital Corporation
Mackie is one of Canada's largest independent full service investment firms, and proudly traces its roots back to 1921. Mackie is privately owned by many of its 300 employees. As a fully integrated national investment dealer, Mackie offers a full complement of capital markets and wealth management services to private clients, institutions and growth companies.
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]