Abaxx Technologies Increases Its Holdings in Base Carbon
TORONTO – Abaxx Technologies Inc. (CBOE: ABXX) (OTCQX: ABXXF), a company known for its innovative financial technology solutions, recently announced a significant acquisition of shares in Base Carbon Inc. This strategic move has strengthened Abaxx’s position within the market, showcasing its continued commitment to fostering sustainable industries.
Details of the Acquisition
On a notable day in early May, Abaxx finalized the acquisition of 3,700,000 common shares of Base Carbon through a private agreement. This acquisition amounted to an impressive total of C$1,515,150, with each share priced at C$0.4095. This transaction emphasizes Abaxx's ongoing investment strategy and highlights its view of Base Carbon as a valuable asset.
Impact on Ownership Structure
Prior to this acquisition, Abaxx held 15,639,630 common shares of Base, representing approximately 14.32% of its outstanding common shares. Following the acquisition, Abaxx’s total holdings in Base Carbon surged to 19,339,630 common shares. This elevates their ownership stake to around 17.7%, marking an increase of over 2% since their last early warning report. Such a move signifies confidence in Base Carbon’s future and aligns with Abaxx’s long-term investment vision.
Strategic Interests
The rationale behind acquiring shares in Base Carbon stems from Abaxx's intent not just for holdings but to establish a stronger foothold in emerging markets. As industries shift towards lower-carbon solutions, partnerships with innovative companies like Base Carbon are essential. Abaxx’s strategy allows for flexibility in future acquisitions, as they may consider further investments based on market conditions.
About Abaxx Technologies
Abaxx Technologies is on a mission to empower markets with advanced financial technologies. By developing innovative infrastructures, Abaxx aims to address critical issues including the global energy transition. The company is a majority owner of both Abaxx Exchange and Abaxx Clearing, which are recognized by the Monetary Authority of Singapore as regulated market operators.
The Role of Abaxx Exchange and Abaxx Clearing
Operating from Singapore, Abaxx Exchange is transforming commodity futures trading and risk management. By introducing centrally cleared, physically deliverable commodities futures, the exchange provides essential tools for better price discovery and management within critical sectors. Such initiatives are pivotal as the world shifts towards a more sustainable economy.
Contact Information
For those seeking more information about this recent acquisition or other developments within the company, please reach out to:
Steve Fray, CFO
Tel: +1 647 490 1590
Media and Investor Inquiries:
Abaxx Technologies Inc.
Investor Relations Team
Tel: +1 647 490 1590
E-mail: ir@abaxx.tech
Frequently Asked Questions
What is Abaxx Technologies working on?
Abaxx Technologies focuses on developing advanced financial technologies and market infrastructures to support sustainable economic practices.
How many shares did Abaxx acquire in Base Carbon?
Abaxx acquired 3,700,000 common shares of Base Carbon in a recent private agreement.
What percentage of Base Carbon does Abaxx now own?
After the acquisition, Abaxx holds approximately 17.7% of the total outstanding common shares of Base Carbon.
Why did Abaxx choose to invest in Base Carbon?
Abaxx views its investment in Base Carbon as part of a strategic initiative to support growing sustainable markets and improve risk management tools.
How can I contact Abaxx for more information?
You can contact Abaxx's Investor Relations Team at +1 647 490 1590 or via email at ir@abaxx.tech.
