Vancouver, British Columbia--(Newsfile Corp. - September 19, 2020) - Axion Ventures Inc. (TSXV: AXV) (OTC Pink: AXNVF) ("Axion" or the "Issuer") announces that the Issuer has been served with a Petition to the Supreme Court of British Columbia filed by its former CEO, John Todd Bonner ("Mr. Bonner"), and his wife Nithinan Boonyawattanapisut ("Jess", together with Mr. Bonner, the "Petitioners"). The Issuer also received a Notice of Civil Claims from Mr. Bonner, Jess and their associated entities.
In the Petition, the Petitioners are seeking, among other things:
The Issuer denies the allegations made by the Petitioners in the Petition and the Issuer intends to take all necessary steps to defend against the groundless claims asserted by the Petitioners.
In the Notice of Civil Claims, Mr. Bonner, Jess and their associated entities are seeking judgements against the Issuer and its subsidiaries for loans allegedly made by them to the Issuer and its subsidiaries for a total of US$9.1 million (the "Bonner Family Loans"). The Issuer also intends to take all necessary steps to defend against these claims as the Issuer has uncovered certain irregularities relating to the Bonner Family Loans.
For further information:
Axion Ventures Inc.
Grant Kim
Interim Chief Executive Officer
[email protected]
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64199