Abaxx Spot

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Abaxx Announces $30.7 Million Strategic Financing
Globenewswire· 2025-09-30 10:30
Core Viewpoint - Abaxx Technologies Inc. has announced a non-brokered private placement financing with a strategic investor, aiming to raise CAD$30.7 million through the issuance of 1,000,000 units at USD$22.00 per unit [1][3]. Financing Details - Each unit consists of one common share and one half of a share purchase warrant, with the full warrant allowing the purchase of an additional share at USD$25.00 for thirty months [2]. - The warrants include a call provision for the company to redeem them at USD$0.01 if the share price exceeds USD$30.00 for 20 consecutive trading days [2]. Use of Proceeds - Proceeds from the financing will be allocated for general corporate purposes, including funding operations of Abaxx Exchange and Clearing, product listings, pilot programs for Abaxx Private Digital Title technology, and hiring [3]. Closing Timeline - The financing is expected to close around October 15, 2025, pending formal documentation and regulatory approvals [4]. Strategic Importance - The financing is seen as a pivotal moment for Abaxx, coinciding with increased trading volumes and validation of its technology vision, which is expected to enhance hiring, product expansion, and network onboarding [5]. - The company emphasizes the commercialization of its proprietary Abaxx Digital Title platform, which aims to address the tokenization of over USD$50 trillion in financial assets [5]. Company Overview - Abaxx Technologies focuses on developing financial technologies that enhance market infrastructure, particularly in the context of a low-carbon economy, through its exchange and clearinghouse operations [6][8]. - The company is also involved in modernizing physical gold trading through its Abaxx Spot platform, which supports secure electronic transactions and physical delivery [9].
Abaxx Announces Results of 2025 Annual Meeting of Shareholders
Globenewswire· 2025-09-11 21:45
Company Overview - Abaxx Technologies Inc. is a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte Ltd., which owns Abaxx Commodity Exchange and Clearinghouse [1][4] - The company aims to build Smarter Markets by providing better tools, benchmarks, and technology to address societal challenges, including the energy transition [3] Shareholder Meeting Results - The annual meeting of shareholders was held virtually on September 11, 2025, with 17,183,123 common shares represented, accounting for 49.96% of the total issued shares [1] - Shareholders voted to set the number of directors at seven, with 99.9% voting in favor [2] - All seven proposed directors were elected, with notable votes in favor for each nominee, such as W. Scott Leckie receiving 99.5% support [2] Financial and Operational Highlights - KPMG LLP was appointed as auditors for the upcoming year, with 99.9% of votes in favor [2] - Abaxx Exchange is focused on providing market infrastructure for a low-carbon economy through futures contracts in LNG, carbon, battery materials, and precious metals [5] - 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 [6]
Abaxx Facilitates Delegation from China City Gas Association to Strengthen Cross-Border Collaboration in Asia’s Natural Gas and Energy Markets
Globenewswire· 2025-08-27 23:30
Core Viewpoint - Abaxx Technologies Inc. is facilitating cross-border cooperation in the natural gas and energy sectors between China and Singapore, focusing on sustainability and innovation in energy markets [1][2][3]. Group 1: Company Overview - Abaxx Technologies is a financial software and market infrastructure company, and the majority shareholder of Abaxx Singapore Pte Ltd., which owns the Abaxx Commodity Exchange and Clearinghouse [1][6]. - The company aims to build Smarter Markets by providing better tools, benchmarks, and technology to address societal challenges, including the energy transition [5]. Group 2: Delegation and Discussions - A high-level delegation from the China City Gas Association (CCGA) visited Singapore to discuss opportunities for enhancing cooperation in the natural gas and energy sectors [1][2]. - The discussions included key issues related to sustainability and innovation in Asia's energy markets, emphasizing the importance of public-private partnerships [2][3]. Group 3: Energy Market Insights - The program highlighted the growing demand for cleaner energy solutions in Asia, particularly the adoption of carbon-neutral LNG and biogas integration [3][4]. - Abaxx Exchange's CEO noted the complexities of the energy transition and the need for efficient market signals to support sustainable decision-making [4]. Group 4: Strategic Importance of Singapore - Singapore is positioned as Asia's energy trading hub, attracting energy companies globally due to its talent, trade financing, and shipping services [4]. - The CCGA delegation recognized Singapore's strengths in LNG and financial markets as valuable for China's gas sector modernization [4].
Abaxx Announces Investor Call to Discuss Tokenized Digital Collateral Pilots and Abaxx Exchange and Clearing Updates
Globenewswire· 2025-08-06 12:01
Core Points - Abaxx Technologies Inc. will host an investor update call on August 11, 2025, to discuss recent technology pilot initiatives and operational milestones [1][2][3] - The call aims to provide insights into how these initiatives align with Abaxx's commercial strategy and progress in key business areas [2][3] Company Overview - Abaxx Technologies is a financial software and market infrastructure company, and it is the majority shareholder of Abaxx Singapore Pte Ltd., which owns the Abaxx Commodity Exchange and Clearinghouse [1][4] - The company focuses on developing financial technologies that enhance communication, trade, and transaction security [4] Market Infrastructure - Abaxx Exchange provides critical market infrastructure for the transition to a low-carbon economy through centrally-cleared, physically-deliverable futures contracts in various commodities, including LNG, carbon, battery materials, and precious metals [5] - Abaxx Spot modernizes physical gold trading with a physically-backed gold pool in Singapore, enabling secure electronic transactions and efficient OTC transfers [6] Strategic Goals - The company aims to create smarter markets by leveraging better tools, benchmarks, and technology to address significant societal challenges, including the energy transition [3][5]
Abaxx Confirms Active Trading in Gold Singapore Futures Following Launch
Globenewswire· 2025-06-15 23:00
Core Viewpoint - Abaxx Technologies Inc. has launched its physically-deliverable Gold Singapore Futures, which began active trading on June 12, 2025, providing a new tool for price discovery and hedging in the Asian market [1][3]. Company Overview - Abaxx Technologies is a financial software and market infrastructure company, and the majority shareholder of Abaxx Singapore Pte Ltd., which owns the Abaxx Commodity Exchange and Clearinghouse [1][7]. - The company aims to create Smarter Markets by developing better tools and technology to address significant societal challenges, including the energy transition [6]. Product Details - The Gold Singapore Futures contract is a USD-denominated, kilobar-sized product designed for the regional physical bullion trade, deliverable into approved vaults in Singapore [2][3]. - This contract is tailored for refiners, industrial consumers, banks, and physical traders in Asia, addressing the growing demand for regional price transparency [3][5]. Market Participation - The initial trading sessions of the Gold Singapore Futures saw participation from eight market makers, including firms from Singapore, Hong Kong, London, and Thailand, with expectations for more participants in the future [4]. - KGI Securities Singapore expressed enthusiasm for the new offering, highlighting its relevance to the Asian market and commitment to providing comprehensive solutions in commodities [5]. Trading Specifications - The Abaxx Gold Singapore Futures contract is available for trading 14 hours per day, Monday through Friday, facilitating access for market participants [5].
Abaxx Introduces Smarter Markets for Precious Metals with the Launch of its Gold Kilobar Futures Contract and Abaxx Spot Gold Pool in Singapore
Globenewswire· 2025-06-12 11:00
Core Insights - Abaxx Technologies Inc. has launched a physically-deliverable Gold Kilobar Futures contract and a new gold trading platform, Abaxx Spot, in Singapore, aiming to enhance market infrastructure for precious metals [1][2][3] Company Overview - Abaxx Technologies is a financial software and market infrastructure company, and the majority shareholder of Abaxx Singapore Pte. Ltd., which owns the Abaxx Commodity Futures Exchange and Clearinghouse [1][10] - The company focuses on building smarter markets through better tools, benchmarks, and technology to address societal challenges, including the energy transition [10] Product Launch - The Gold Kilobar Futures contract is USD-denominated, physically deliverable, and sized to 1-kilogram, 9999-purity bars, catering to Asia's bullion trade [3][6] - Abaxx Spot provides a secure platform for the transfer of physically-allocated gold, allowing registered participants to maintain title to an undivided interest in the gold held in appointed vaults [5][7] Market Impact - This launch represents the first co-located spot and futures infrastructure for gold, designed to reduce fragmentation in global gold markets and align trading practices with actual market operations [2][6] - The integrated infrastructure aims to address structural inefficiencies that separate global benchmarks from physical trade, with pricing traditionally anchored in New York and London [8][12] Trading Operations - Trading on the Abaxx Gold Singapore Futures contract is available 14 hours per day, Monday through Friday, providing a regionally anchored benchmark for price discovery and risk management [4][3] - The platform is designed for physical market participants, including bullion dealers and refiners, offering global access to kilobar gold trading without the complexities of traditional OTC markets [7][8]
Abaxx to Launch Singapore Gold Kilobar Futures and Physically-Allocated Gold Pool on June 12, 2025
Globenewswire· 2025-05-13 11:00
Core Viewpoint - Abaxx Technologies Inc. is expanding its product offerings by launching Gold kilobar futures on June 12, 2025, aimed at enhancing the physical bullion trade in Asia [1][2]. Product Launch - The Gold futures are specifically designed for Asia's physical bullion market, utilizing the kilobar format to improve pricing accuracy and align futures settlement with physical market practices [2][3]. - The contract will be US dollar-denominated, kilobar-sized, and physically deliverable, with delivery into approved vaults in Singapore [2]. Market Infrastructure - The introduction of these futures contracts addresses existing structural mismatches in the gold market, facilitating better pricing and risk management [3]. - Abaxx is also launching Abaxx Spot, a new trading platform for physically-allocated gold, which will enhance market access and transparency [4][5]. Regulatory Compliance - Abaxx Spot Pte. Ltd. operates under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019, exempt from holding a spot commodities broker license [6]. Company Overview - Abaxx Technologies aims to create smarter markets through improved tools and technology, addressing significant societal challenges, including the energy transition [7][9]. - The company is the indirect majority shareholder of Abaxx Singapore Pte. Ltd., which owns Abaxx Exchange and Abaxx Clearing, and operates Abaxx Spot [8].