Axion Ventures Appoints Director on Behalf of True Corporation

Vancouver, British Columbia--(Newsfile Corp. - January 15, 2021) - Axion Ventures Inc. (TSXV: AXV) (OTC Pink: AXNVF) ("Axion" or the "Company") is pleased to announce the appointment of Mr. Mana Prapakamol as a director of the Board with immediate effect, and Mr. Prapakamol shall also serve on the Company's Audit Committee.

Mr. Prapakamol holds more than 18 years management experience in the media and interactive content industry and currently serves as Associate Director in charge of 5G Service Innovation of True Corporation PCL ("True") and General Manager of True Digital Plus Company Limited, the online game business operation of True. He represents True, a substantial strategic shareholder of the Company, and one of the family companies under Charoen Pokphand Group ("CP Group"), a global conglomerate from Thailand. Mr. Prapakamol is also a Director and Investment Committee member of True-Kona Cayman GP, the General Partner of LINE Games-True-Kona Global Fund LP. The fund has Korea Venture Investment Corporation and LINE Games Corporation as lead investors, and it invests into South Korean start-ups in in the gaming sector as well as disruptive technologies. He is also the Founder of the annual Bangkok International Game Show, now known as the Thailand Game Show, and the Co-founder of Online Station Co., Ltd. and Future Gamer which was acquired by True Digital Content and Media. Mr. Prapakamol is also a co-founding director and continues to serve on the board of True Axion Interactive, a subsidiary of the Company. Mr. Prapakamol received his MBA from Golden Gate University.

Mr. Yamazaki as Axion's Chairman commented, "We are most grateful by the appointment of Khun Mana on behalf of True and its wholly owned subsidiary, True Incube, a valued shareholder of the Company. We look forward to the continued expansion of our strategic relationship with our esteemed partner from Thailand through Khun Mana's expertise and video game management acumen across Asia. His anticipated contributions to the Company shall provide an immediate and positive impact."

Mr. Prapakamol added, "It is my distinguished pleasure to be welcomed to the Company's board, and I look forward to working with my fellow directors as the Company continues its critical reformation including an expanded and improved management team to execute on the compelling potential and opportunity for which True based its initial investment decision in 2017."

The Company also announces the formation and composition of the following committees with immediate effect:

The Company additionally formed a Litigation Committee as constituted below to effectively deal with the ongoing litigation involving by Mr. Bonner and his wife, and for the Litigation Committee to be empowered with the full authority of the Board to manage and execute any and all matters relating to the litigation affairs of the Company.

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., its video game development company headquartered in Bangkok, Thailand cofounded with True Corporation. Axion Ventures also maintains holdings in other innovative technology companies.

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Contact Information

Axion Ventures Inc.
Grant Kim
Interim Chief Executive Officer
+1(604)219-2140

Cautionary Statement Regarding Forward-Looking Information

This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.

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.

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