Abaxx Technologies Finalizes C$2.76 Million Private Investment
Abaxx Technologies Announces Successful Financing Close
Abaxx Technologies Inc. (CBOE CA:ABXX) is excited to share the recent completion of its final tranche in a private placement financing effort, successfully raising C$2,756,000. This financing represents a significant step in advancing Abaxx's mission to enhance market infrastructure and financial technology in support of global energy transition initiatives.
Details of the Private Placement
The final tranche involved the issuance of 50,000 common shares at a price of C$13.00 each, bringing in gross proceeds of C$650,000. This follows a preceding tranche in November 2024, where a total of 212,000 shares were issued under the same pricing structure. Together, these efforts bolster Abaxx's financial base, allowing the company to continue expanding its operations in innovative market solutions.
Utilization of Funds
The capital raised will be primarily directed towards general corporate and working capital needs. This strategic allocation is designed to support ongoing operations of Abaxx Exchange and Abaxx Clearing, ensuring compliance with regulatory requirements while enhancing the capacity to serve clients more effectively.
Abaxx’s Growth and Vision
Abaxx operates with a vision of creating Smarter Markets, a realm where advanced financial technology effectively addresses pressing challenges like energy transition. The company is not only a leader in financial solutions but also plays a pivotal role in facilitating better price discovery and risk management within commodity markets.
Market Position
Abaxx Exchange and Abaxx Clearing are recognized as key players in Singapore’s energetic market landscape. As a registered market operator and approved clearinghouse, these subsidiaries are instrumental in facilitating the trading of commodity futures and derivatives, thereby contributing significantly to a more sustainable and lower-carbon economy. Their innovations are targeted at creating a reliable pathway for commodities critical to this transition.
Contact Information
For additional insights or inquiries regarding this financing announcement, interested parties can reach out directly to:
Steve Fray, CFO
Tel: 647-490-1590
For media and investor relations:
Abaxx Technologies Inc.
Investor Relations Team
Tel: +1 647 490 1590
Email: ir@abaxx.tech
Frequently Asked Questions
What is the total amount raised in this financing round by Abaxx?
Abaxx Technologies raised a total of C$2,756,000 through this private placement, including both tranches.
What will the funds from this financing be used for?
The proceeds are designated for general corporate purposes, working capital, and regulatory compliance for ongoing operations.
What are the main subsidiaries of Abaxx Technologies?
Abaxx owns Abaxx Exchange and Abaxx Clearing, both recognized by financial authorities in Singapore.
How does Abaxx define Smarter Markets?
Smarter Markets refer to enhanced market environments boosted by advanced financial technologies that effectively tackle significant challenges, such as energy transition.
How can investors get more information about Abaxx Technologies?
Investors can find more information on Abaxx through their official communications channels or by contacting their investor relations team.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. If any of the material offered here is inaccurate, please contact us for corrections.