Abaxx Technologies Secures C$2.756M in Final Tranche of Private Placement

Abaxx Technologies Inc. (CBOE CA:ABXX) ("Abaxx" or the "Company"), a financial software and market infrastructure company, has successfully closed the final tranche of its non-brokered private placement financing, raising a total of C$2.756 million. The final tranche consisted of the issuance of 50,000 common shares at a price of C$13.00 per share, with aggregate gross proceeds of C$650,000. The financing, which included a previous tranche that closed on November 22, 2024, consisted of the issuance of 212,000 shares at the same price, raising a total of C$2,756,000 (Source: GlobeNewswire, Jan. 24, 2025).



The proceeds from the financing will be used for general corporate and working capital requirements, including funding ongoing operations and/or working capital, and meeting minimum regulatory requirements for Abaxx Exchange and Abaxx Clearing. No finder's fees or commissions were paid in connection with the final tranche (Source: GlobeNewswire, Jan. 24, 2025).

Abaxx is a majority shareholder of Abaxx Singapore Pte. Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse, and the producer of the SmarterMarkets™ Podcast. The Company is building smarter markets empowered by better financial technology and market infrastructure to address global challenges, including the energy transition. Abaxx Exchange and Abaxx Clearing are recognized by the Monetary Authority of Singapore as a "recognized market operator" and "approved clearinghouse," respectively (Source: GlobeNewswire, Jan. 24, 2025).

The completion of this financing is a significant milestone for Abaxx, providing the capital necessary to continue its growth and expansion plans. The strategic investor who participated in the financing has shown confidence in Abaxx's business model and growth prospects. With improved financial stability, Abaxx can invest more in expanding its market presence, such as through strategic partnerships like the one with Vanir Global Markets Pte. Ltd., a global energy and environmental interdealer brokerage firm (Source: GlobeNewswire, Sept. 29, 2023).

In conclusion, Abaxx Technologies Inc. has successfully raised C$2.756 million in its final tranche of private placement financing. The raised funds will be used to support the Company's ongoing operations, meet regulatory requirements, and invest in strategic initiatives that align with its long-term objectives of building smarter markets, addressing global challenges, and ensuring shareholder value. The completion of this financing demonstrates Abaxx's commitment to its growth and expansion plans, as well as the confidence of its strategic investors in the Company's business model.