/Not intended for distribution to U.S. newswire services or dissemination within the United States/
TORONTO, March 28, 2024 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE CA:ABXX) (“Abaxx” or the “Company”) is a financial software and market infrastructure company and subsidiary of Abaxx Singapore Pte Ltd. Major shareholder. The Company, owner of Abaxx Commodity Exchange and Clearinghouse (separately, “Abaxx Exchange” and “Abaxx Clearing”) and producer of the SmarterMarkets™ podcast, is pleased to announce the purchase transaction financing (“Recruitment”).
The Company issued a total of 1,437,500 shares of common stock (hereinafter “common stock'') Purchase transaction basis at an offering price of C$13.00 per common share ('')Offering priceThis includes 187,500 common shares fully issued pursuant to the exercise of the overallotment option, resulting in total proceeds of C$18,687,500.
The Company currently uses the net proceeds from the offering for general corporate and working capital purposes, including to fund ongoing operations and/or working capital and the minimum regulatory requirements for the Abaxx Exchange and Abaxx Clearing. requirements or for other corporate purposes described in that provision. A prospectus supplement to the base prospectus dated March 20, 2024 filed in connection with the offering.
The offering was led by Canaccord Genuity Corp. and BMO Capital Markets jointly with Cantor Fitzgerald Canada Corporation (collectively, the “”).underwriter”). The Company paid the underwriters a cash commission equal to 6% of the gross proceeds raised from the offering, except for a cash commission equal to 3% with respect to sales to members of the President's List. However, sales to members of the President's List are: CAD 1.5 million.
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 issued pursuant to the Offering have not been and will not be registered under the U.S. Securities Act or any state securities laws and will not be distributed to or for the account or benefit of the United States or any U.S. Persons. may not be offered or sold for. ” (as such term is defined in Regulation S under the Securities Act), if registered under the United States Securities Act and applicable state securities laws, or where an exemption from such registration is available. Excludes.
About Avax Technologies
Abaxx is building Smarter Markets, markets powered by better financial technology and market infrastructure to address the biggest challenges, including the energy transition. In addition to developing and deploying financial technologies that make communication, trade and transactions easier and safer, Abaxx is recognized by the Monetary Authority of Singapore as a “Recognized Market Operator” and “Approved Clearing House” respectively.
Abaxx Exchange and Abaxx Clearing are Singapore-based commodity futures exchanges and clearing houses that have introduced centrally cleared and physically deliverable commodity futures and derivatives, which are essential for the transition to a low-carbon economy. Provide better price discovery and risk management tools for your products.
Learn more about abaxx.tech, abaxx.exchange and smart market media.
For more information on this press release, please contact:
Steve Frey, CFO
Phone: +1 647 490 1590
Media and investor inquiries:
Avax Technologies Co., Ltd.
Investor Relations Team
Phone: +1 647 490 1590
Email: ir@abaxx.tech
Cautionary Note Regarding Forward-Looking Information
This press release contains certain “forward-looking statements” that are not historical facts. Forward-looking statements include estimates and statements that describe Abaxx's future plans, objectives or goals. This includes language stating that Abaxx expects the described situation or result to occur. Forward-looking statements include “seeks,” “should,” “intends,” “anticipates,” “could,” “believes,” “expects,” They may be identified by terms such as “anticipate,” “estimate,” and “may.” , “can,” “will,” “will,” “continue,” “plan,” or the negative of these terms and similar expressions. Forward-looking statements are based on current expectations and assumptions and address future events or conditions and, by their nature, involve inherent risks and uncertainties. Although these statements are based on information currently available to Abaxx, Abaxx provides no assurance that actual results will meet the expectations of the respective management. Risks, uncertainties, assumptions and other factors associated with forward-looking information may cause actual events, results, performance, prospects and opportunities to be different from those expressed or implied by such forward-looking information. It may be very different from the actual one.
Forward-looking information related to Abaxx contained in this press release includes, without limitation, Abaxx's objectives, goals or future plans and the use of proceeds from the offering. Factors that could affect forward-looking information include: risks related to global economic conditions; Dilution; Abaxx has limited operational history. uncertainty of future capital needs and additional financing; Industry competitiveness. Exchange risk. the need for Abaxx to manage its planned growth and expansion; the impact of product development and the need for continued technological change; Protection of property rights. The impact of government regulation and compliance on his Abaxx and industry. Abaxx's ability to list or be listed on a stock exchange on a timely basis; Network security risks. Abaxx's ability to maintain properly operating systems; dependence on key personnel; A deterioration in global economic and financial markets could impede access to capital or increase the cost of capital. And volatile securities markets affect security prices independent of business performance. In addition, certain factors that may affect the future performance of Abaxx's business include operations in foreign jurisdictions, protection of intellectual property rights, contractual risks and third-party risks but not limited to. clearinghouse risk, malicious actor risk, third party software license risk, system failure risk, and technological change risk. Dependence on technology infrastructure. and changes in commodity prices, capital market conditions, workforce, international travel, and supply chain limitations. Abaxx also assumes that no material events occur outside of Abaxx's normal business operations.
Abaxx cautions that the above list of important factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there are other factors that could cause results not to be as anticipated, estimated or intended. . When making decisions in reliance on forward-looking statements or information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx assumes that the important factors referenced in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, this list of factors is not exhaustive and is subject to change, and there can be no assurance that such assumptions will reflect the actual results of such items or factors. The forward-looking statements and information contained in this press release represent his Abaxx expectations as of the date of this press release and, therefore, are subject to change after that date. Abaxx undertakes no obligation to update or revise any forward-looking statements or 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 is not responsible for the adequacy or accuracy of this press release.
