Abaxx Technologies Submits Early Warning Report on MineHub
Abaxx Technologies Inc. (CBOE: ABXX) (OTCQX: ABXXF) (“Abaxx” or the “Company”), a firm specializing in financial software and market infrastructure, has submitted an early warning report concerning its recent acquisition of shares in MineHub Technologies Inc. (“MineHub”). Abaxx, which has an indirect majority stake in Abaxx Singapore Pte Ltd., is known for operating the Abaxx Commodity Exchange and Clearinghouse, as well as producing the SmarterMarkets™ Podcast.
Details of the Share Exchange Agreement with MineHub
On a specified date, Abaxx successfully completed the first tranche closing of a share exchange agreement with MineHub. This transaction involved acquiring 4,166,677 common shares of MineHub along with 8,333,333 purchase warrants. Each warrant enables Abaxx to buy an additional common share at a predetermined price, valid until a specified expiration date.
Importance of the Acquisition
Before this transaction, Abaxx did not own any common shares in MineHub. Following the first tranche closing, the company now holds a 5.76% stake in unmodified MineHub shares, and a 15.5% stake on a partially diluted basis, considering the potential exercise of the warrants. This acquisition is primarily an investment move, reflecting Abaxx's strategic interest in the future potential of MineHub.
Opportunities for Future Acquisitions
Abaxx plans to stay active in the market concerning MineHub's shares, retaining the option to acquire more equity or securities as market conditions evolve. This strategy will be influenced by various factors, including MineHub's business growth, market trends, and other relevant dynamics.
Compliance with Regulatory Requirements
This public disclosure aligns with applicable securities laws, specifically the obligations outlined in the National Instrument 62-103 regarding early warning reporting. Abaxx will submit a comprehensive early warning report to the securities regulators to provide additional details about the transactions executed.
Overview of Reporting Procedures
The early warning report can be accessed via MineHub's profile on relevant regulatory platforms. Additionally, interested parties are encouraged to contact Abaxx’s head office for any inquiries related to this matter.
About MineHub Technologies Inc.
MineHub is listed on the TSX Venture Exchange under the ticker symbol “MHUB”. It operates as a corporation under the laws of British Columbia, with its main office situated in a prominent region of Canada.
About Abaxx Technologies
Abaxx aims to create Smarter Markets through innovative financial technology and infrastructure solutions designed to address critical challenges, such as the shift to renewable energy. The company engages in various operations to develop cutting-edge financial technologies that improve trading efficiency and transaction security.
Operational Highlights of Abaxx
As a prominent player in financial technology, Abaxx runs the Abaxx Exchange and Abaxx Clearing, recognized as a market operator and approved clearing house in Singapore, respectively. These initiatives are focused on providing a more efficient platform for commodities trading and derivatives.
Media and Investor Inquiries
For more information about Abaxx Technologies, interested individuals should contact the Investor Relations team using the provided contact details. Email inquiries are also welcome for more in-depth discussions.
Frequently Asked Questions
What is the purpose of the early warning report filed by Abaxx?
The early warning report serves to disclose Abaxx's acquisition of shares in MineHub and to comply with regulatory requirements regarding significant changes in shareholding.
What percentage of MineHub shares does Abaxx now hold?
Abaxx currently owns 5.76% of the issued and outstanding MineHub shares on an undiluted basis, and 15.5% on a partially diluted basis, factoring in the exercise of warrants.
What are the main operations of Abaxx Technologies Inc.?
Abaxx Technologies focuses on creating financial technologies that enhance market infrastructure, particularly aimed at improving efficiency in energy markets.
How can investors access the early warning report?
Investors can locate the early warning report filed by Abaxx on MineHub’s profile on recognized regulatory platforms.
How can I contact Abaxx for investor inquiries?
Investor inquiries can be directed to the Investor Relations team through the provided email and contact number for more detailed discussions.
