Axiom Mining Limited (ASX:AVQ) announced a private placement of 22,570,000 common shares at a price of AUD 0.10 per share for gross proceeds of AUD 2,257,000 on October 9, 2018. The transaction included participation from sophisticated and professional investors, including Jeffrey Markoff and Mr Ryan Mount, directors of the company for proceeds of AUD 500,000. The company also issued one options for every two common shares exercisable at a price of AUD 0.20 per share for a period until June 30, 2019.