Axiom Mining Limited (ASX:AVQ) announced a private placement of up to 21,900,000 common shares at a price of AUD 0.04 per share for gross proceeds of AUD 876,000 on May 10, 2019. The transaction will include participation from Ryan Mount, Managing Director of the company for 2,500,000 shares, and sophisticated and professional investors. The transaction is subject to the approval of the shareholders of the company.