LAS VEGAS, May 11, 2016 /PRNewswire/ -- Axiologix, Inc. (www.axiologix.net) (Pinksheets: AXLX), operating in the Mobile Payments and International Remittance markets, today announces that it recently entered into a joint venture with SLA Mobile, a market leader in the direct operator billing segment of the rapidly growing mobile payments market. The partnership was accomplished using an all stock transaction through a newly formed subsidiary, SLA Digital Inc., that results in Axiologix owning 51% of the new entity with SLA Mobile owning the remaining 49%. In addition, SLA Mobile received 500 million shares of AXLX common stock, resulting in SLA Mobile holding a 44% beneficial ownership in AXLX. Details of the transaction can be found in the Subsequent Events Footnote of the latest quarterly report filed with OTC markets at http://www.otcmarkets.com/stock/AXLX/filings.
SLA Digital Inc. provides Digital Services such as Direct Operator Billing, in conjunction with leading mobile operators throughout Africa, the Middle East and Asia that enables it to seamlessly connect content providers with end customers using its proprietary mobile payment platform 'Alacrity'.
Direct Operator Billing allows mobile operator subscribers to purchase content in a safe and seamless way by charging transaction to their prepaid phone balance or adding it to their monthly phone bill.
Mr. Nic Stirk, CEO of SLA Digital, commented, "We are delighted to develop our relationship with Axiologix in order to expand our global footprint of mobile operators and content partners and to execute on our aggressive merger and acquisition strategy. Direct Operator Billing is expected to grow immensely over the coming years with strong growth across our core markets the Middle East and Asia due to the relatively low levels of credit card penetration and high population of unbanked subscribers. Axiologix provides us with an entry to the US public markets as well as their experience and expertise in the field of investment. We expect this structure will help us continue to drive the high organic growth we are currently experiencing and also to complete a number of merger and acquisitions that we have identified that will increase our handset population, create new innovative content, applications and complimentary services to our core offering."
Andrew S. Austin, newly appointed Chief Executive of Axiologix, commented, "We are obviously very pleased to announce some positive developments for Axiologix and we look forward to working closely with Nic and his team at SLA Digital to support their current successes. They already work with a number of the world's leading mobile operator groups such as Zain, Vodafone and Axiata along with over 40 content provider partners across the globe. Through its existing relationships with the mobile operators, SLA Digital has access to over 300 million mobile customers that can now use their phone credit to purchase content that they could otherwise not do. SLA Digital makes its money by taking a percentage of every transaction made by customers."
Mr. Austin continued, "We believe that SLA Digital is poised to breakout in this very exciting global market and we plan to give Axiologix shareholders the opportunity to share directly in the ongoing success of SLA Digital with an expected public listing of SLA Digital within the next year."
About Axiologix, Inc.
Axiologix, Inc. (OTC Pinks: AXLX) based in Las Vegas, Nevada, USA operates in the rapidly growing Mobile Payments and International Remittance markets. A key focus is on un-banked and under-banked communities both in the United States and around the World. Together with our innovative strategic partners we provide disruptive 'Cloud' banking services such as 'member-to-member' payments and merchant services using cell phones and the Internet, along with linked debit cards for convenience and international mobile money remittance transfers at a keystroke. Our users have long sought to use more convenient, more inclusive and ultimately more affordable banking services that are currently unavailable to them from regular banking channels. Additional information may be found at www.axiologix.net
About SLA Digital
SLA Digital is an international Digital Services company delivering innovative solutions such as Direct Operator Billing to Mobile Network Operators and Content Partners globally in order to drive additional revenue streams for all participants. Headquartered in the UK and Malaysia, our team of experienced mobile specialists operate worldwide serving significant operator and content partners throughout Europe, the Middle East and Asia. For further information, visit www.sla-digital.com
This press release contains forward-looking statements. Words such as "expects", ``intends'', ``believes'', and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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SOURCE Axiologix, Inc.