Appoints Chief Financial Officer & New Independent Board Dir TORONTO, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (NEO:ABXX) (OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software (fintech) company, majority shareholder of Abaxx Singapore Pte. Ltd. the Abaxx Commodity Exchange (ACX), and producer of the SmarterMarkets™ Podcast, announces updates to the Company’s Executive Management, appointing Steve Fray as Chief Financial Officer (CFO), and Cyrus Hiramanek who will join the Abaxx Board of Directors, both effective August 17, 2021.
Mr. Fray will replace interim CFO Wes Fulford who will resume a previous role as corporate finance adviser to Abaxx, leading the financing of Base Carbon Corp. and a strategic review of Abaxx iron ore assets. Cyrus Hiramanek is appointed as a new Independent Board Director.
Mr. Fray brings over 20 years' experience building and leading finance teams in global companies with significant operating scale and complexity. Most recently, he served as CFO at Goldmoney Inc, (TSX: XAU), a precious metal financial service and technology company. In addition, Mr. Fray spent 4 years at GuestLogix Inc (TSX: GXI) as VP Finance, 3 years as a senior finance manager at Accounting General’s Department of Bermuda, and he held numerous audit roles at KPMG.
Mr. Fray holds several designations and professional affiliations namely a Master of Business Administration (MBA) in Finance from the University of Manchester, Certified Professional Accountant, Certified General Accountant, (CPA, CGA), and is a Fellow of the Association of Certified Chartered Accountants, (FCCA-UK).
Cyrus Hiramanek is a Senior Coverage Officer and Managing Director at M. Klein and Company, a boutique investment bank in North America. Mr. Hiramanek has worked in investment banking for over 15 years with focus on the natural resources sector, specifically oil and gas, metals and mining, and for industrial technology clients throughout North and South America, Europe, Asia and the Middle East. Prior to M. Klein and Company, Mr. Hiramanek performed investment banking roles at Deutsche Bank, Goldman Sachs and Toronto Dominion Securities. Mr. Hiramanek’s investment banking resume includes notable advisory work on the landmark Saudi Aramco IPO, the sale of SABIC by PIF to Aramco, the Barrick Randgold merger, and IHS Markit merger.
Mr. Hiramanek holds professional designations including CFA and FRM Charter Holder, with an undergraduate honours degree in Economics, Finance and Math in addition to a graduate diploma in Public Accounting from McGill University.
“I am pleased to have Steve and Cyrus joining the Abaxx senior leadership team and board, respectively,” said Josh Crumb, Abaxx CEO. “Having worked with Steve over the years at other global companies I helped build, including Goldmoney Inc. and Men Inc., our effective working relationship and his level of expertise in multi-dimensional corporate finance structures positions him to understand and support Abaxx’s growth plan. Similarly, Cyrus has been a highly regarded colleague and mentor for me in financial markets for many years; his knowledge and background in corporate strategy and international resource markets will provide valuable guidance to the Abaxx board and Abaxx Exchange business development team.”
About Abaxx Technologies
Abaxx is a development stage financial software company that has created proprietary technological infrastructure for both global commodity exchanges and the digital marketplace. The Company’s formative technology increases transaction velocity, data security, and facilitates improved risk management for the majority owned, Abaxx Singapore Pte. Ltd. (“ACX”, “Abaxx Commodity Exchange”, or “Abaxx.Exchange”) - a commodity futures exchange that is seeking final regulatory approvals as a Recognized Market Operator (“RMO”) and Approved Clearing House (“ACH”) with the Monetary Authority of Singapore (“MAS”). Abaxx is also the owner of the LabMag and KeMag iron ore assets, resulting from the reverse take-over of New Millennium Iron Corp, and the creator and producer of the SmarterMarkets™ podcast.
For more information please visit abaxx.tech, abaxx.exchange and SmarterMarketsPod.com