Axios Provides Default Status Report and Announces Resignation of Director - Seite 2

The Company's audited financial statements and related management's discussion and analysis for the year ended December 31, 2015 are near completion but for confirmation of certain information from the Required Filings. It is anticipated that the audited financial statements and related management's discussion and analysis for the year ended December 31, 2015 will be filed concurrently with the Required Filings;

There have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines;

There has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement other than the associated delay in filing the audited financial statements and related management's discussion and analysis for the year ended December 31, 2015; and

There is no other material information respecting the Company's affairs that has not been generally disclosed.

Until the Required Filings have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in Section 4.4 of NP 12-203 by issuing bi-weekly default status reports in the form of further press releases, which will also be filed on SEDAR. The Company will file, to the extent applicable, its next default status report on or about May 13, 2016.

Should the Company fail to file the Required Filings by June 6, 2016, fail to provide bi-weekly status reports in accordance with NP 12-203 or have a further default, the OSC can impose a cease trade order on Axios, such that all trading in securities of the Company cease for such period as the OSC may deem appropriate.

Resignation of Osama Arafat

The Company also announced today that Osama Arafat has resigned as a director of the Company effective today. Mr. John Albright, a current director of the Company, will take over as Chairman of the Board.

"On behalf of the Company and the Board, we wish to thank Mr. Arafat for his contributions to the Company and wish him well in his future endeavors," said Richard MacDonald, President & CEO.

The Company will take steps to fill Mr. Arafat's board seat as soon as practicable.

About Axios Mobile Assets

Axios Mobile Assets Corp. is a supply chain logistics company. Axios is becoming a key supplier of pooled pallets primarily in the perishable food category. The Axios Solution includes proprietary tracking and information systems that deliver actionable data that helps improve supply chain visibility and food safety. The Axios Solution is gaining market acceptance based on its unique attributes: lower total cost, lighter weight, sanitary pallets, and real time data.