Axion Announces 2023 Annual General and Special Meeting Results

Vancouver, British Columbia--(Newsfile Corp. - February 22, 2023) - Axion Ventures Inc. (TSXV: AXV) (OTC: AXNVF) ("Axion" or the "Company") is pleased to announce the results of voting at its Annual General and Special Meeting of Shareholders which was held earlier on February 16, 2023 in Vancouver, British Columbia (the "Meeting").

All matters submitted to the shareholders of the Company (the "Shareholders") for approval as set out in the Company's management information circular dated January 13, 2023 (the "Circular"), were approved by the requisite majority of votes cast at the Meeting. The Circular is available on the Company's SEDAR profile at www.sedar.com.

Davidson and Company LLP, were appointed as auditors of the Company for the ensuing year.

The Shareholders voted in favour of setting the number of directors at five (5) and the following incumbent directors were re-elected: Yasuyo Yamazaki, Kunio Hamada, Mana Prapakamol, Stephen Willey, and Grant Kim.

The resolution of the replacement of the Company's 2016 stock option plan with a new 2023 stock option plan to comply with TSX Venture Exchange ("TSXV")'s newly revised Policy 4.4 - Incentive Stock Options, as more particularly described in the Circular, was approved by an ordinary resolution of the Shareholders.

The resolution to authorize the voluntary delisting of the common shares of the Company from the TSXV, as more particularly described in the Circular, was approved by a majority of the minority resolution of the Shareholders.

The Company wishes to thank the Shareholders for their participation and continued support.

For further information:

Axion Ventures Inc.

Grant Kim
Interim Chief Executive Officer
info@axionagm.com

Cautionary Statement Regarding Forward-Looking Information

This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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