Abaxx Technologies Inc. has closed a non-brokered private placement financing, raising $22 million through the issuance of 1,000,000 units at $22.00 per unit. Each unit includes one common share and one half of one share purchase warrant, with anti-dilution provisions and a call provision. The proceeds will be used for general corporate purposes, funding ongoing operations, new hires, and regulatory requirements. The financing is subject to final approval from Cboe Canada, with a four-month hold period for securities issued. Abaxx Technologies aims to build Smarter Markets with better tools and technology for market-based solutions.

Abaxx Exchange and Clearing will use the proceeds to support the shift towards an electrified, low-carbon economy through centrally-cleared futures contracts in LNG, carbon, battery materials, and precious metals. Abaxx Spot modernizes physical gold trading through a physically-backed gold pool in Singapore, supporting secure electronic transactions and physical delivery for gold futures contracts. Abaxx Technologies aims to empower markets with better technology and infrastructure to address societal challenges, including the energy transition. Investors can find more information about Abaxx Technologies on their website.

Read more at GlobeNewswire: Abaxx Announces Closing of US$22 Million Strategic