NEW CASTLE, Pa., July 19, 2016 /PRNewswire/ -- As disclosed in a Current Report on Form 8-K filed with the SEC on July 15, 2016, Axion Power International, Inc. (OTCQB: AXPW) effected a 1-for-400 reverse split of its issued and outstanding common stock, and started trading on a reverse split basis as of July 15, 2016 upon receipt of FINRA approval. As a result of the reverse split, Axion Power (AXPW) is trading as "AXPWD" for 20 trading days starting last Friday. After the 20th trading day, the symbol will revert to "AXPW".
About Axion Power International, Inc. Axion Power is a technology leader in lead-carbon energy storage. Axion's patented lead carbon battery is the only advanced battery technology with an all carbon negative electrode. Axion's negative electrodes are designed to be directly substituted for lead acid negative electrodes producing the unique benefits of the Axion carbon technology. Axion Power's primary goal is to become the leading supplier of carbon electrode assemblies for lead-acid battery companies around the world. For more information, visit www.axionpower.com
Forward-looking Statements Certain statements in this Press Release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risk factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include the risk for the Company to complete its development work, as well as the risks inherent in commercializing a new product (including technology risks, market risks, financial risks and implementation risks, and other risks and uncertainties affecting the Company), as well as other risks that have been included in filings with the Securities and Exchange Commission, all of which are available at www.sec.gov. We disclaim any intention or obligation to revise any forward-looking statements, including, without limitation, financial estimates, whether as a result of new information, future events, or otherwise.