CJC Holdings, Ltd. completed the acquisition of Axiom Holdings, Inc. in a reverse merger transaction.
December 20, 2016
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CJC(Hong Kong), Ltd. entered into a share exchange agreement to acquire Axiom Holdings, Inc. (OTCPK:AIOM) in a reverse merger transaction on October 10, 2016. Under the terms of agreement, Axiom will issue 200 million shares which shall represent approximately 58.8% of the issued and outstanding shares of Axiom’s common stock after giving effect to the cancellation of 200 million shares of common stock currently issued and outstanding. The transaction is subject to due diligence investigation, CJC shall have provided Axiom with CJC financial statements and limited customary representations and warranties of CJC. Axiom or CJC may terminate the agreement if closing does not occur by February 15, 2017. An amendment agreement was signed on December 21, 2016, pursuant to which Sichuan Xing Tie Electric Power Company Limited which is an additional subsidiary of CJC to be acquired as part of the transaction. Laura Anthony and Lazarus Rothstein of Legal & Compliance acted as legal advisor for Axiom Holdings.
CJC(Hong Kong), Ltd. completed the acquisition of Axiom Holdings, Inc. (OTCPK:AIOM) in a reverse merger transaction on December 21, 2016.
Axiom Holdings, Inc., formerly At Play Vacations, Inc., is a shell company. The Company through its subsidiary, Quality Resort Hotels, Inc. (QRH), is engaged in marketing discount vacation packages to sought-after resort destinations throughout North America. The Company, through QRH, operates as a vacations company that books online travel. It is seeking business opportunities with established business entities for merger with or acquisition of a target business. The Company offers travel services on a package basis primarily through the merchant model and the agency model. Under the merchant model, it facilitates the booking of hotel rooms and destination services from its travel suppliers. Under the agency model, the Company acts as the agent in the transaction, passing reservations booked by the traveler to the relevant travel provider. The Company receives commissions from the travel supplier and/or traveler. Horizon Resources Co. Ltd. is a subsidiary of the Company.