Axion Ventures Launches Rising Fire with Tencent in China

VANCOUVER, July 3, 2018 /CNW/ - Axion Ventures Inc. ("Axion Ventures", "Axion", or the "Company") (TSXV: AXV) is pleased to announce the commercial launch of the Company's self title, 'Rising Fire' in China through Tencent Holding Limited's (HKG: 0700) (OTC: TCEHY) ("Tencent") massive distribution network, 'WeGame'. Axion expects Tencent to distribute Rising Fire in a staged manner to approximately 1.5 million active WeGame users immediately, 15 million users by mid-July, and up to 100 million users by mid-August. Axion will update shareholders with usage and growth data on a periodic basis as this data is made available by Tencent who has the distribution rights of Rising Fire in China, the world's largest gaming market, with a projected value of US$37.98 Billion in 2018.

In connection with the launch, Tencent has commenced a multi-million dollar marketing campaign to raise awareness and drive player participation. Currently trading at a market cap of US$ 475 Billion, Tencent is the world's largest video game company by revenue.

Rising Fire Staged Release

Stage 1:	1.5 Million Users	Currently in Process
Stage 2:	15 Million Users	By Mid-July 2018
Stage 3:	100 Million Users	By Mid-August 2018

"After years of high-level, rigorous testing by the world's largest video game publisher, we are proud to announce that Rising Fire has officially been launched through Tencent's powerful distribution arm," said Todd Bonner, CEO and Chairman of Axion Ventures. "The testing process that Rising Fire was subjected to since 2016 examined multiple layers of gameplay, artwork, and playability which, through all four levels of alpha and beta testing, returned retention rates that indicate a major success. Through the data that has been logged, our team has produced what we believe to be a successful game within an industry that has exploded in popularity in recent years. We are excited to be able to report user growth as soon as Axion receives the hard data from Tencent."

Rising Fire

Rising Fire is a 600 man-year, third-person shooter, role playing game that has been initially developed for the PC platform in China which will be distributed by the largest game publisher in the world, Tencent Holdings Limited. The game contains 7 player classes, 20 levels, 30+ maps and more than 160 weapon parts providing players with endless customization. Five player versus player (PvP) and player versus environment (PvE) modules are offered allowing users to complete in solo game play featuring artificial intelligence or multiplayer, interactive e-sports events.

About Axion Ventures

Axion Ventures is an Investment Issuer with majority ownership in Axion Games, an online video game development and publishing company headquartered in Shanghai, China as well as in True Axion Interactive Ltd., a video game development company headquartered in Bangkok, Thailand and cofounded with True Corporation. Axion Ventures also maintains holdings in other innovative technology companies.  

www.axionventures.com 
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.

Cautionary Statement Regarding Forward-Looking Information

Certain statements contained in this press release may constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "proposed" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Axion Ventures' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the number of users that Rising Fire will be made available to within a certain time criteria and expectations of substantial commercial revenue. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Axion Ventures. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: general economic and business conditions; and changes in international regulatory regimes. Axion Ventures cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and Axion Ventures is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

SOURCE Axion Ventures Inc.

Axion Ventures Inc., John Todd Bonner, Chief Executive Officer, [phone]; Matthew Sroka, Corporate Development Manager, [phone]