Axis Auto Finance Announces the Appointment of Richard Lloyd as Chief Financial Officer

TORONTO, Sept. 7, 2016 /CNW/ - Axis Auto Finance Inc. ("Axis" or the "Company"), (TSXV: AXS) a non-prime lender servicing the Canadian used vehicle market, announced today that Mr. Richard Lloyd has been appointed as Chief Financial Officer ("CFO") of the Company. Mr. Lloyd's appointment follows several months of extensive candidate selection process with the assistance of an executive recruiting agency.

Mr. Lloyd is a Chartered Professional Accountant (CPA) with over 20 years of finance and operations experience. He spent 7 years as Director of Operations and Finance at Travelers Leasing Corporation (acquired by Bank of Nova Scotia in 2007 and re-branded as Scotia Dealer Advantage). At Travelers (and later at Scotia Dealer Advantage), Mr. Lloyd led the development and build out of the operations team that grew the business from a mid-size regional lender to one of the largest near-prime lenders in Canada. As part of the Travelers leadership team, Mr. Lloyd played an integral part in expanding the business to a nation-wide foot print and completing several acquisitions.      

"We are very pleased to have Mr. Lloyd join Axis as CFO. His skill set and experience should only strengthen Axis' continued growth and allow us to increase efficiency and scalability across all business disciplines. We believe that Mr. Lloyd can make a meaningful contribution to the success of Axis and I look forward to working with him in the future" said Ilja Troitschanski, CEO of Axis.

Grant of Stock Options

Concurrently with his appointment as CFO, the Board of Directors of the Company has granted Mr. Lloyd, five other employees as well as two members of the Board of Directors of Axis a total of 750,000 stock options at an exercise price of $0.70 per share. The options vest in equal installments over 24 months and expire seven years from the grant date.   

About Axis Auto Finance

Axis provides non-standard financing options targeting roughly 30% of Canadians (Source: Equifax) that do not qualify for traditional bank-type financing for their used vehicle purchase. Through personalized service and a commitment to building strong, long-lasting relationships with dealer partners, Axis continues to be one of Canada's fastest-growing auto-financing companies.

Further information on the Company can be found at www.axisautofinance.ca.

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

Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, available at www.sedar.com.

SOURCE Axis Auto Finance Inc.

Copyright 2016 Canada NewsWire