PaperNuts Corporation entered into a share exchange agreement to acquire Axiom Corp. (OTCPK:AXMM) in a reverse merger transaction on February 19, 2015. Under the terms of the agreement, Axiom will issue 52 million common shares at an exchange ratio of 42.617187 common shares to Papernuts Canada.

As a result of this issue, PaperNuts shareholders shall obtain a majority stake in Axiom and is accounted for as a reverse acquisition or recapitalization of the Axiom Corp. Post acquisition PaperNuts will become a subsidiary of Axiom Corp. and will discontinue all current operations, continuing operations of PaperNuts.

The transaction is subject to all consents, waivers, authorizations and approvals of any governmental or regulatory authority and execution of the agreement by PaperNuts shareholders holding at least 90% of the PaperNuts. The transaction is approved by Papernuts shareholders.