VANCOUVER, July 22, 2019 /CNW/ - Axion Ventures Inc.
("Axion" or the "Company") (TSX VENTURE: AXV; OTCQX: AXNVF)
announces entry into a binding memorandum of understanding ("MOU")
with a leading video game developer ("Partner") to begin the joint
development of a new video game (the "Game") expected for global
distribution on multiple platforms. Under the MOU, Axion and the
Partner have agreed to complete a prototype of the game as an
initial milestone with other milestones and joint venture terms to
be formalized in a long form co-development/joint venture agreement
in due course.
Due to the highly sensitive nature of the Game and as outlined
in the MOU, both parties have agreed to protect the confidential
nature of the project until a later date. The Game's expected
launch date is late 2020 to a global audience and will be available
to play on major consoles and PC.
Axion is expected to deliver a playable demo to their Partner in
Q4 2019 at which point more details may be announced to
shareholders.
Rising Fire
The official 'Season 1' of Axion's flagship video game, Rising
Fire, is currently in the process of dissemination through
Tencent's WeGame network and the Company expects to update
shareholders with both the 14 and 30 day retention rates by
mid-September 2019. Rising Fire is in
the process of Stage 2 distribution to an audience of 15 million
gamers on WeGame and the Company is excited to see the results of
'Season 1'. Please see Axion's news release from June 10th, 2019 for more details.
About Axion
Axion is a video game company 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.
www.axionventures.com
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.
Cautionary Statement Regarding Forward-Looking
Information
Certain statements contained in this press release may
constitute forward-looking information. These statements relate to
future events or future performance. The use of any of the words
"could", "intend", "expect", "believe", "will", "projected",
"estimated", "proposed" and similar expressions and statements
relating to matters that are not historical facts are intended to
identify forward-looking information and are based on Axion's
current belief or assumptions as to the outcome and timing of such
future events. Actual future results may differ materially. In
particular, this release contains forward-looking information
relating to global distribution of the Game on multiple platforms;
formalizing and completing a long for agreement; launch date of the
Game; and expected Rising Fire shareholder updates. Various
assumptions or factors are typically applied in drawing conclusions
or making the forecasts or projections set out in forward-looking
information. Those assumptions and factors are based on information
currently available to Axion. Risk factors that could cause actual
results or outcomes to differ materially from the results expressed
or implied by forward-looking information include, among other
things: general economic and business conditions; and changes in
international regulatory regimes. Axion cautions the reader that
the above list of risk factors is not exhaustive. The
forward-looking information contained in this release is made as of
the date hereof and Axion is not obligated to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward-looking information. The foregoing statements
expressly qualify any forward-looking information contained
herein.
SOURCE Axion Ventures Inc.
