Abaxx Announces Closing of Final Tranche of C$2,756,000 Private Placement

Article content

/Not for distribution on NewsWIRE services in the United States or for publication in the United States/

Article content

Article content

TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE CA:ABXX) (“Abaxx” or the “Company”), a financial software and market infrastructure company, is the majority shareholder of Abaxx Singapore Pte. Ltd., Owner of Abaxx Commodity Exchange and Clearinghouse (individually, “apax exchange“and”Apax Clearing“), and product of the SmarterMarkets™ Podcast, is pleased to announce that today it closed its final tranche (“Final slide“) of non-brokered private placement financing (“”)Finance“). The final tranche consists of the issuance of 50,000 common shares (“).shares“) to the Company at a price of C$13.00 per share for gross proceeds of C$650,000. The financing, which consists of the final tranche and the tranche that closed on November 22, 2024, consists of the issuance of 212,000 shares at a price of C$13.00 per share for gross proceeds of C$2,756,000.

Article content

It is expected that the proceeds of the financing will be used for the company’s general requirements and working capital, including financing ongoing operations and/or working capital and minimum regulatory requirements for Abaxx Exchange and Abaxx Clearing. No fees or commissions were paid to the researcher in connection with the final slide.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities issuable under the Financing have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold to, for the account of or for the benefit of “United States persons” or “U.S. Persons” (as such terms are defined on Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Apax Technologies
Abaxx is building smarter markets – markets empowered by better financial technology and market infrastructure to address our biggest challenges, including the energy transition. In addition to developing and deploying financial technologies that make communications, trading and transactions easier and more secure, Abaxx is the majority owner of Abaxx Exchange and Abaxx Clearing, subsidiaries recognized by the Monetary Authority of Singapore as a “Recognized Market Operator” and “Authorised Clearing House”. respectively.

Article content

Article content

Abaxx Exchange and Abaxx Clearing is a Singapore-based commodity futures exchange and clearinghouse, offering centrally settled and physically deliverable commodity futures and derivatives to provide better price discovery and risk management tools for commodities for our transition to a low-carbon economy.

For more information please visit abaxx.tech, abaxx. exchange and Smartermarkets.media.

For more information about this press release, please contact:

Steve Fry, CFO
Phone: 647-490-1590

Media and investor inquiries:

Apax Technologies Inc
Investor Relations Team
Tel: +1 647 490 1590
Email: ir@abaxx.tech

Cautionary statement regarding forward-looking information

This press release includes certain “forward-looking statements” that do not consist of historical facts. Forward-looking statements include estimates and statements describing Abaxx’s future plans, goals or objectives, including words to the effect that Abaxx expects a stated condition or outcome to occur. Forward-looking statements can be identified by terms such as “seeks”, “should”, “intends”, “predicts”, “potential”, “believes”, “anticipates”, “anticipates”, “estimates”, “may” or “could” or “Can”, “will”, “continue”, “plans” or the negative of these words and similar expressions. Because forward-looking statements are based on current expectations and assumptions and address future events and conditions, by their nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Abaxx, they provide no assurance that actual results will meet the expectations of the relevant management. The risks, uncertainties, assumptions and other factors associated with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.

Article content

Forward-looking information relating to Abaxx in this press release includes, but is not limited to, Abaxx’s goals, objectives or future plans and the intended use of proceeds from the Financing. These factors affecting forward-looking information include, among others: risks related to the global economic climate; mitigation; Abaxx’s limited operating history; future capital needs and uncertainty about additional financing; The competitive nature of the industry; currency exchange risks; Abaxx’s need to manage planned growth and expansion; implications of product development and the need for continuous technological change; Protection of property rights; the impact of government regulation and compliance on Abaxx and the industry; the ability to list Abaxx’s securities on exchanges on a timely basis or at all; network security risks; Abaxx’s ability to maintain properly operating systems; Dependence on key personnel; deterioration of global economic and financial markets, which impedes access to capital or increases the cost of capital; and volatile securities markets that affect securities prices unrelated to operating performance. In addition, specific factors that could affect the future results of Abaxx’s business include, but are not limited to: operations in foreign jurisdictions, protection of intellectual property rights, contractual risks, and third-party risks; clearinghouse risk, malicious actor risk, third-party software licensing risk, system failure risk, and technological change risk; Reliance on technical infrastructure; and changes in commodity prices, capital market conditions, and restrictions on labor, international travel and supply chains. Abaxx has also assumed that no significant events outside the normal scope of Abaxx’s business will occur.

Article content

Abaxx cautions that the above list of physical factors is not exhaustive. Additionally, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the above factors, the risk factors in the Company’s most recent management discussions and analyzes and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the preceding paragraphs will not cause these forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that these assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represent Abaxx’s expectations as of the date of this press release and are therefore subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. CBOE Canada does not accept responsibility for the adequacy or accuracy of this news release.

Article content