Creditor of Former Axion Ventures CEO Receives BC Supreme Court Relief Concerning 40,713,307 Axion Shares, Prohibiting Sale to Monaker Group

Singapore, Singapore--(Newsfile Corp. - April 15, 2021) - Further to the press release of April 07, 2021, Yuki Hirakawa is a concerned shareholder of Axion Ventures Inc. (TSXV: AXV) and a creditor of John Todd Bonner, the former chief executive officer of Axion, and his family and affiliates under his control. John Todd Bonner, Nithinan Boonyawattanapisut and Monaker Group Inc. (NASDAQ: MKGI) have together announced the sale, closing and transfer of 71,993,358 shares of Axion from the Bonners and Bonner Affiliates to Monaker in connection with a series of transactions involving shares of Axion and HotPlay Enterprise Limited.

Mr. Hirakawa is pleased to announce that the British Columbia Supreme Court awarded relief as follows on April 14, 2021:

  1. Mr. Bonner, Ms. Boonyawattanapisut and Cern One, and their respective directors, officers, servants or agents or any person acting under their direction or authority, are prohibited from transferring, assigning, disposing of, or otherwise dealing in any way with the 40,713,307 shares of Axion Ventures Inc. ("AXV") beneficially owned by Mr. Hirakawa that Mr. Bonner, Ms. Boonyawattanapisut and Cern One, or any of them, directly or indirectly control (the "Restrained Shares") until the trial of this action or further order of the court; and
  2. Mr. Bonner, Ms. Boonyawattanapisut and Cern One, and their respective directors, officers, servants or agents or any person acting under their direction or authority, or any person having a proxy from any one or more of Mr. Bonner, Ms. Boonyawattanapisut and Cern One are prohibited from voting or accepting the vote of any or all of the Restrained Shares at any meeting of the shareholders of AXV pending the trial of this action or further order of the court.

To arrive at this order, the court ruled that it has jurisdiction to hear the case despite a jurisdictional objection from the Bonner defendants, that Mr. Hirakawa had a strong prima facie case, and that irreparable harm would result to Mr. Hirakawa if the requested injunction was not ordered.

Mr. Hirakawa commented, "This crucial award by the British Columbia Supreme Court sheds further light onto the conduct of Todd Bonner and his third wife, often known as Jess amongst many other aliases. As an Axion shareholder, I am confident that the voting at the upcoming Annual and Special Shareholders Meeting of Axion shall reflect the desire of Axion's other shareholders to rebuke this conduct. There are many other innocent people who have fallen as victims to Todd Bonner and Jess, and I understand that the BC Supreme Court made another similar award for 5 other claimants from Japan for 3,470,626 shares of Axion."

The ongoing Civil Cases mentioned above are available on https://justice.gov.bc.ca/cso/esearch/civil/fileSearch.do and can be identified as No. S213309 for Mr. Hirakawa's claim and No. S213370 for other Japanese claimants.

Contact Info:

Yuki Hirakawa
E-mail: gensei@hirakawafamilyoffice.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80525

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