On August 23, 2024, MineHub Technologies Inc. announced the successful closure of a strategic partnership with Abaxx Technologies Inc., as originally disclosed on August 1, 2024. The agreement involved the exchange of Abaxx Shares for MineHub Shares and MineHub Warrants. In the initial tranche, MineHub received 109,584 Abaxx Shares in exchange for 4,166,667 MineHub Shares and 8,333,333 MineHub Warrants.
The Abaxx Shares received by MineHub do not have a hold period under securities laws, while the MineHub Shares and Warrants issued to Abaxx, along with any shares issued upon Warrant exercise, will have a hold period of four months and a day from the closing date. The second tranche of the partnership is anticipated to close by September 9, 2024.
Abaxx Technologies Inc. is focused on developing Smarter Markets through enhanced financial technology and market infrastructure to address challenges such as the energy transition. As the majority owner of subsidiaries Abaxx Exchange Pte. Ltd. and Abaxx Clearing Pte. Ltd., Abaxx is recognized by the Monetary Authority of Singapore for its market operator and clearing house services.
MineHub Technologies Inc. serves as a digital supply chain platform for commodity markets, improving supply chain efficiency, resilience, and sustainability. The company offers digital solutions that connect buyers, sellers, laboratories, and financiers within commodity supply chains, enhancing workflow with verifiable and secure data. MineHub users have greater control over their supply chains to optimize resources, respond to disruptions, and improve customer service.
Please refer to the official press release for more information. Contact details for media inquiries and investor relations at Abaxx Technologies Inc. are also provided. Additionally, caution is advised regarding forward-looking statements, and readers are encouraged to review the full release for further details and disclosures.
