Abaxx Files Early Warning Report with Respect to MineHub

TORONTO, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (Cboe CA:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”) today announces the expiration of 8,333,333 common share purchase warrants of MineHub Technologies Inc. (“MineHub”) held by Abaxx resulting in a change of Abaxx’s partially diluted beneficial ownership of MineHub of greater than 2% and the filing of an early warning report.

Prior to the expiry of the Warrants on November 15, 2024, Abaxx beneficially owned and controlled 8,333,333 common shares and 8,333,333 Warrants of MineHub representing approximately 10.83% of the outstanding common shares on a non-diluted basis and approximately 19.65% on a partially diluted basis, assuming the exercise of all Warrants. The Warrants had an exercise price of $0.35 and expired out-of-the money.

As a result of the expiry of the Warrants, Abaxx now beneficially owns and controls 8,333,333 MineHub common shares and nil Warrants representing approximately 10.83% of the outstanding common shares on a non-diluted basis and a partially diluted basis. The MineHub common shares are held by Abaxx for investment purposes.

This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the early warning report with respect to the foregoing will appear on MineHub’s SEDAR+ profile at www.sedarplus.ca and may also be obtained upon request to Abaxx’s head office address at 110 Yonge St., Suite 1601, Toronto, Ontario M5C 1T4.

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: ir@abaxx.tech

Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.