TORONTO, Sept. 7, 2016 /CNW/ - Axis Auto Finance Inc.
("Axis" or the "Company"), (TSXV: AXS) a non-prime lender servicing
the Canadian used vehicle market, announced today that Mr.
Richard Lloyd has been appointed as
Chief Financial Officer ("CFO") of the Company. Mr. Lloyd's
appointment follows several months of extensive candidate selection
process with the assistance of an executive recruiting agency.
Mr. Lloyd is a Chartered Professional Accountant (CPA) with over
20 years of finance and operations experience. He spent 7 years as
Director of Operations and Finance at Travelers Leasing Corporation
(acquired by Bank of Nova Scotia
in 2007 and re-branded as Scotia Dealer Advantage). At Travelers
(and later at Scotia Dealer Advantage), Mr. Lloyd led the
development and build out of the operations team that grew the
business from a mid-size regional lender to one of the largest
near-prime lenders in Canada. As
part of the Travelers leadership team, Mr. Lloyd played an integral
part in expanding the business to a nation-wide foot print and
completing several acquisitions.
"We are very pleased to have Mr. Lloyd join Axis as CFO. His
skill set and experience should only strengthen Axis' continued
growth and allow us to increase efficiency and scalability across
all business disciplines. We believe that Mr. Lloyd can make a
meaningful contribution to the success of Axis and I look forward
to working with him in the future" said Ilja Troitschanski, CEO of
Axis.
Grant of Stock Options
Concurrently with his appointment as CFO, the Board of Directors
of the Company has granted Mr. Lloyd, five other employees as well
as two members of the Board of Directors of Axis a total of 750,000
stock options at an exercise price of $0.70 per share. The options vest in equal
installments over 24 months and expire seven years from the grant
date.
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.