TORONTO, Oct. 8, 2020 /CNW/ - Axis Auto Finance Inc.
("Axis" or the "Company"), (TSXV: AXIS) Canada's fastest growing publicly-traded
alternative automotive finance company, today announced that it has
set a sales record by originating $1.75
million in new loans in a single day.
The record setting day occurred on September 30, 2020 and represents a 75% increase
to the previous single day record set a year ago. This achievement
underscores the scalability of the Axis platform that utilizes
leading-edge technology tools to allow automotive dealers to
convert more applications into loans faster.
"It's good to see the used car market rebound strongly after the
COVID-19 shutdowns," commented Ilja Troitschanski, President of
Axis. "We continue to expand our dealer network and are seeing
significant sales growth across the country," he added.
Lesley Gallinger appointed to
the Axis Board of Directors
Lesley Gallinger is the President
and CEO of Elexicon Energy ("Elexicon"). Based in
Ajax, Elexicon is the
4th largest municipally owned Local Distribution Company
in Ontario. Elexicon services 170,000 electricity customers
in Pickering, Ajax, Whitby,
Clarington, Belleville, Gravenhurst and surrounding communities.
Prior to joining Elexicon in 2019, Ms. Gallinger was the Chief
Strategy and Financial Officer for the Electrical Safety
Authority. Earlier in her career, Ms. Gallinger served as CFO
in other energy and pharmaceutical organizations. She is active in
the industry and currently serves as a Director and Committee Chair
for several energy organizations.
Ms. Gallinger has a B.A. from York
University and an M.B.A. from the Schulich School of
Business. She also holds a CPA (CMA), and CPA (Illinois). She received both the Chartered
Director and Audit Committee certifications from The Director's
College (McMaster University).
"We are very pleased to welcome Ms. Gallinger to the Axis
Board," said Todd Hudson, CEO of
Axis. "Her leadership experience will help guide Axis for years to
come and her breadth of fiscal expertise brings depth to the Audit
Committee," he added.
Ms. Gallinger's appointment is subject to customary TSX Venture
approval. She is being granted 200,000 stock options an exercise
price of $0.45 vesting over 24 months
and expiring 7 years from the grant date. She will also receive
part of her compensation in restricted share units ("RSUs") and is
being granted $75,000 worth of RSUs
at $0.45 vesting in annual
installments over 36 months.
About Axis Auto Finance
Axis Auto Finance is a technology-driven provider of alternative
used vehicle financing options servicing roughly 30% of Canadians
(Source: Equifax) that have credit scores in the non-prime range.
All Axis auto loans report to the credit bureau, resulting in 71%
of customers seeing a significant improvement of their credit
scores. These clients use Axis as a stepping-stone in their credit
rebuilding journey and we are proud to be improving the lives of
these Canadians. Supported by state-of-the-art, in-house developed
risk analytics, Axis continues to be Canada's fastest-growing publicly traded
auto-financing company. Additional information on the Company can
be found
at https://www.axisfinancegroup.com/investors/.
The TSX Venture Exchange has neither approved nor disapproved
the contents of this press release. Neither the Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the Exchange) accepts responsibility for the adequacy
or accuracy of this release.
SOURCE Axis Auto Finance Inc.