TORONTO, May 02, 2025 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE: ABXX) (OTCQX: ABXXF) (“Abaxx” or the “Company”) announces today that it has filed an early warning report in respect of its holdings in Base Carbon Inc. (“Base”). On May 2, 2025, Abaxx acquired 3,700,000 common shares of Base by way of private agreement (the “Acquisition”) for an aggregate purchase price of C$1,515,150 at C$0.4095 per common share.
At the time of filing its audited consolidated financial statements for the fiscal year 2024, Abaxx held 19,339,630 common shares of Base. Immediately prior to the Acquisition, Abaxx held 15,639,630 common shares of Base, representing 14.32% of the outstanding common shares of Base on an undiluted basis. Immediately after the Acquisition, Abaxx held 19,339,630 common shares of Base, representing 17.7% of the outstanding common shares of Base on an undiluted basis. As a result of the Acquisition and certain issuer events of Base, Abaxx’s ownership of Base has increased by more than 2% since the filing of its last early warning report.
Abaxx acquired the common shares as part of its strategic interest in Base and for investment purposes. In the future, Abaxx may acquire additional securities of Base including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, and/or other relevant factors, subject to applicable restrictions and contractual obligations.
A copy of the early warning report will be filed by Abaxx under Base Carbon’s profile on SEDAR at www.sedarplus.ca.
About Abaxx Technologies
Abaxx is building Smarter Markets — markets empowered by better financial technology and market infrastructure to address our biggest challenges, including the energy transition. In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is a majority-owner of Abaxx Exchange and Abaxx Clearing, subsidiaries recognized by MAS as an RMO and ACH, respectively.
Abaxx Exchange and Abaxx Clearing are a Singapore-based commodity futures exchange and clearinghouse, introducing centrally cleared, physically deliverable commodities futures and derivatives to provide better price discovery and risk management tools for the commodities critical to our transition to a lower-carbon economy.
For more information please visit abaxx.tech, abaxx.exchange and smartermarkets.media.
For more information about this press release, please contact:
Steve Fray, CFO
Tel: +1 647 490 1590
Media and investor inquiries:
Abaxx Technologies Inc.
Investor Relations Team
Tel: +1 647 490 1590
E-mail: [email protected]
