Axion Provides Update on the Initial Tranche of $20 Million Investment Agreement

Vancouver, British Columbia--(Newsfile Corp. - June 4, 2021) - Axion Ventures Inc. (TSXV: AXV) (OTC Pink: AXNVF) ("Axion" or the "Company") is pleased to announce that it has been granted a conditional approval for the initial tranche of C$8,000,000 (the "Initial Tranche") under the convertible debenture investment agreement (the "Investment Agreement") that the Company entered into with KUAM (Hong Kong) Investment 01 Ltd. ("KUAM") for up to C$20 million by way of unsecured convertible debentures.