Abaxx Announces Closing of US$22 Million Strategic Financing

Core Viewpoint - Abaxx Technologies Inc. has successfully closed a non-brokered private placement financing, raising US$22 million through the issuance of 1,000,000 units at a price of US$22.00 per unit [1][2]. Financing Details - Each unit consists of one common share and one half of a share purchase warrant, with each whole warrant allowing the purchase of an additional share at US$25.00 until April 20, 2028 [2]. - The financing is subject to final approval from Cboe Canada, and all securities issued will be subject to a four-month hold period under Canadian securities laws [4]. Use of Proceeds - The proceeds from the financing are intended for general corporate and working capital purposes, including funding ongoing operations of Abaxx Exchange and Clearing, product listings, pilot programs for Abaxx Private Digital Title technology, and meeting regulatory requirements [3]. Company Overview - Abaxx Technologies is focused on creating Smarter Markets through improved tools and technology, addressing significant societal challenges such as the energy transition [6]. - The company is the majority shareholder of Abaxx Singapore Pte. Ltd., which owns Abaxx Exchange and Abaxx Clearing, and operates Abaxx Spot Pte. Ltd. [7]. Market Infrastructure - Abaxx Exchange provides critical market infrastructure for the transition to a low-carbon economy, offering centrally-cleared, physically-deliverable futures contracts in various commodities [8]. - Abaxx Spot modernizes physical gold trading with a physically-backed gold pool in Singapore, facilitating secure electronic transactions and supporting physical delivery for gold futures contracts [9].