Abaxx Announces Closing of US$22 Million Strategic Financing

Executive Summary

• Abaxx Technologies Inc. closed a non‑brokered private placement financing of US$22 million, issuing 1,000,000 units at US$22.00 per unit.
• Each unit includes one common share and half of a share purchase warrant; the warrants allow purchase of additional shares at US$25.00 until 20 April 2028 and contain anti‑dilution and call provisions.
• Proceeds will be used for general corporate and working capital purposes, including funding Abaxx Exchange and Clearing operations, product listings, private digital title technology pilots, hiring, go‑to‑market execution, and meeting regulatory requirements.

Key Details

• Financing Size: US$22 million gross proceeds.
• Units Issued: 1,000,000 units at US$22.00 per unit.
• Unit Composition:
• 1 common share of Abaxx Technologies.
• One‑half of one share purchase warrant (full warrant grants the right to buy an additional share).
• Warrant Terms:
• Exercise price: US$25.00 per share.
• Expiration: 20 April 2028.
• Anti‑dilution protection included.
• Call provision: Company may repurchase warrants at C$0.01 each with 30‑day notice if the value‑weighted average price of the shares exceeds C$41.76 for 20 consecutive trading days.
• Use of Proceeds:
• General corporate and working capital needs.
• Ongoing operations of Abaxx Exchange and Abaxx Clearing, including additional product listings.
• Pilot programs for Abaxx Private Digital Title technology.
• Accelerating new hires and go‑to‑market execution.
• Satisfying minimum regulatory requirements for the exchange and clearinghouse.
• Regulatory Conditions: Subject to final approval by Cboe Canada; securities subject to a four‑month hold period under Canadian law.

Notable Quotes

(No executive quotes were included in the release.)