Sand Grove Capital Management LLP ("Sand Grove") announces that on March 11, 2016 it has, through funds it manages, acquired control of 1,038,400 common shares of AXIA NetMedia Corporation ("AXIA") representing approximately 1.62% of the outstanding common shares of AXIA, as per Bloomberg.

The total number of common shares of AXIA held by Sand Grove funds is now 3,900,000; representing approximately 6.08% of the issued and outstanding common shares. Sand Grove has acquired 3,900,000 common shares in AXIA since March 09, 2016.

Sand Grove acquired the common shares in the open market through the facilities of the Toronto Exchange. Sand Grove acquired the common shares for the sole benefit of discretionary funds under management. Sand Grove may, depending on market and other conditions, acquire or sell further common shares from time to time for such investment purposes on behalf of the funds.