Abaxx Signing of Agreements for Strategic Financing /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (NEO:ABXX) (OTCQX:ABXXF) (“Abaxx Tech” or the “Company”), a financial software and market infrastructure company and majority shareholder of Abaxx Singapore Pte. Ltd. (“Abaxx Singapore”), the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, is pleased to announce that Abaxx Singapore has, as part of a best efforts equity private placement of preferred shares (the “Preferred Shares”) and Ordinary Shares (the “Ordinary Shares”) of Abaxx Singapore (the “Offering”), signed definitive investment agreements with a group of strategic corporate investors to participate in an Offering of 953,787 Preferred Shares and 4,837,392 Ordinary Shares for aggregate gross proceeds of approximately US$27,323,013. The investors for Preferred Shares are Abaxx’s first group of globally recognized strategic participants in the market infrastructure and commodity ecosystems, while Abaxx Tech (through an indirect wholly-owned subsidiary) is the investor for the Ordinary Shares. Closing of the Offering is anticipated to occur on or about January 8, 2024.
Abaxx Announces Signing of Agreements for Strategic (globenewswire.com)