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Abaxx Provides Corporate Update

Retrieved on: 
Friday, September 29, 2023
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TORONTO, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (NEO:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of the Abaxx Commodity Exchange and Clearinghouse (“Abaxx Singapore”), and producer of the SmarterMarkets™ Podcast, summarizes development activities over the past quarter and the general progress of the Company’s business plans. Abaxx also announces that it completed a financing of approximately CAD $1,013,000 through the private placement of an unsecured convertible debenture of the Company with an existing shareholder. Further details of these updates are provided below.

Key Points: 
  • Strategic Financing: The strategic financing process for Abaxx Singapore is progressing, with an expected conclusion in early Q4.
  • Abaxx has signed non-binding term sheets as well as definitive agreements with corporate strategic investors, as previously disclosed on August 14th, 2023.
  • The following press release provides a detailed update on these developments.
  • First Tranche of Strategic Financing: Abaxx Singapore, consistent with its initiative for a US$20 million to US$35 million best efforts equity private placement of preferred shares (the “Preferred Shares”) of Abaxx Singapore (the “Offering”), has formalized an investment agreement with an initial corporate investor.

Abaxx Provides Corporate Update and Quarterly Development Activities

Retrieved on: 
Wednesday, August 16, 2023
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TORONTO, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (NEO:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of the Abaxx Commodity Exchange and Clearinghouse (“Abaxx Singapore”), and producer of the SmarterMarkets™ Podcast, summarizes development activities over the past quarter and the general progress of the Company’s business plans.

Key Points: 
  • Exchange Product Development: Abaxx Singapore is finalizing Stage 3 of its nickel-related product development — focused on industry, risk, and regulatory considerations.
  • Abaxx Group Development Company Base Carbon Delivers First Revenues to Abaxx Technologies: In Q2-2023, Abaxx achieved an important corporate milestone by recognizing first revenues on the Company’s 2.5% gross revenue royalty on Base Carbon sales, the first group revenue from an organic development project within Abaxx.
  • The Company plans to host a quarterly business update investor presentation, to provide a business update and respond to investor questions.
  • The Company invites current and prospective shareholders to attend this quarterly business update and Q&A session with the Abaxx executive team.