Axion Cancels 33 Million Performance Escrow Shares and Issues 40 Million Shares to Kuni Umi

Vancouver, British Columbia--(Newsfile Corp. - July 19, 2021) - Axion Ventures Inc. (TSXV: AXV) (OTC Pink: AXNVF) ("Axion" or the "Company") announces that it has cancelled 33,000,000 common shares of the Company (the "Escrowed Shares") under the performance escrow agreement dated May 11, 2016 (the "Escrow Agreement"), and amended in April 2019.