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Abaxx Technologies Inc. Announces C$2.795 million Strategic Financing with a Strategic Investor

Oct 22, 2024•over 1 year ago

Contract Type

partnership

TorontoFinancial ServicesFinanceFintechBlockchainCryptocurrency

Description

Abaxx Technologies Inc. has announced its anticipation to enter into a binding agreement with a strategic investor, who has agreed to purchase 215,000 common shares of the company at a price of CAD$13.00 per common share, resulting in aggregate gross proceeds of C$2,795,000 on a private placement basis. The funds from the financing are expected to be utilized for general corporate and working capital requirements.

Company Information

Company

Abaxx Technologies

Location

390 Bay St

Toronto, Ontario, Canada

About

Abaxx is a development-stage financial software and market infrastructure company creating proprietary technological infrastructure for both global commodity exchanges and digital marketplaces. The Company’s formative technology increases transaction velocity, data security, and facilitates improved risk management in the majority-owned Abaxx Commodity Exchange (Abaxx Singapore Pte. Ltd.) - a commodity futures exchange seeking final regulatory approvals as a “recognized market operator” and “approved clearing house” with the Monetary Authority of Singapore (“MAS”). Abaxx is a founding shareholder in Base Carbon Inc. and the creator and producer of the SmarterMarketsTM podcast. For more information please visit abaxx.tech, abaxx.exchange and smartermarkets.media.

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Strategic

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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