TORONTO, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, indirect 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, today announced that Nickel Sulphate futures, the first of its battery metals products, are now live for trading.
Abaxx’s physically-deliverable Nickel Sulphate futures contracts meet the growing demand for reliable price benchmarks in a rapidly transforming market, driven by the global energy transition and the race to secure supply chains for critical battery metals. Demand for nickel sulphate is expected to grow at a compound annual rate of 22% from 2020 to 2030¹. Market participants require tools that provide transparency, precision in price discovery, and effective risk management.
This Abaxx Nickel Sulphate Singapore futures contract is a US dollar-denominated, 5 tonne nickel contained, delivered at place (DAP) contract, physically deliverable in Singapore.
“Nickel sulphate markets are evolving rapidly, and market participants need tools that reflect the realities of physical trading,” said Nancy Seah, CEO of Abaxx Exchange. “Our physically-deliverable futures contracts provide not just price discovery, but a trusted benchmark that participants can align with for financing, supply chain planning, and long-term contracting — moving markets forward toward smarter solutions.”
Abaxx’s suite of futures contracts for energy, environmental and battery metals are open for trading 14 hours a day, Monday through Friday. Visit abaxx.exchange/resources-clearing-members-brokers for a full list of clearing firms and execution brokers.
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 an indirect majority-owner of subsidiaries Abaxx Exchange and Abaxx Clearing, recognized by MAS as a “recognised market operator” (RMO) and “approved clearing house” (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 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: +1 246 271 0082 E-mail: ir@abaxx.tech
¹ Roskill. (2021). Study on future demand and supply security of nickel for electric vehicle batteries. Prepared for the Joint Research Centre.
Cautionary Statement Regarding Forward-Looking Information
This press release includes certain “forward-looking statements” which do not consist of historical facts. Forward-looking statements include estimates and statements that describe Abaxx’s future plans, objectives, or goals, including words to the effect that Abaxx expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “seeking”, “should”, “intend”, “predict”, “potential”, “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “continue”, “plan” or the negative of these terms and similar expressions. Since forward-looking statements are based on current expectations and assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Abaxx, Abaxx does not provide any assurance that actual results will meet respective management expectations. Risks, uncertainties, assumptions, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information.
Forward-looking information related to Abaxx in this press release includes, but is not limited to: Abaxx’s objectives, goals or future plans, benefits of the introduction of its Nickel Sulphate contracts; introduction of new battery materials products; the delivery of commodities subject to futures contracts, and, positive impacts from the growth of global battery metal demand. Such factors impacting forward-looking information include, among others: risks relating to the global economic climate; dilution; Abaxx’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx’s products and operations; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: operations in foreign jurisdictions, protection of intellectual property rights, contractual risk, third-party risk; clearinghouse risk, malicious actor risks, third- party software license risk, system failure risk, risk of technological change; dependence of technical infrastructure; and changes in the price of commodities, capital market conditions, restriction on labor and international travel and supply chains, and the risk factors identified in the Company’s most recent management discussion and analysis filed on SEDAR+. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.
Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.
