Abaxx will also host an investor update call Thursday June 18, 2026, at 4:30 p.m. ET

TORONTO, June 17, 2026 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (TSX:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), today refutes misinformation being circulated and addresses the recent decline in the Company’s share price.

Since our last Earnings Call on May 19, 2026, the share price has declined sharply to yesterday’s close of C$35.84, a level last seen in March of this year. This share price decline occurred despite the Company’s positive accomplishments over this period, including listing on the Toronto Stock Exchange (“TSX”) and closing a C$69 million bought deal financing at a price of C$54.25.

There have been a number of unfounded accusations leveled at the Company during this period, which we will address below. There have been no changes to the Company’s business strategy, and Abaxx continues to make progress on the key business objectives discussed during the last earnings call.

We understand investors have concerns regarding the accusations leveled at the Company in a recent report from Viceroy Research.

The largest insinuation in this report is their attempt to reframe the Company’s building of initial liquidity on Abaxx Exchange through market maker and liquidity provider incentive programs as somehow fraudulent.

To be perfectly clear, wash trading is illegal and, pursuant to Rule 508 in Abaxx Exchange’s rulebook, is not permitted. Abaxx Exchange has a robust market surveillance program in place that actively monitors and reviews trading activity for signs of wash trading or other forms of possible market manipulation in alignment with regulatory requirements. Any suspected violations are subject to Abaxx Exchange’s disciplinary proceedings, which can include reporting to regulators. Live trading data is published daily on our website and is available through third-party distributors including LSEG and TradingView. Abaxx market data is also available to clients of CQG, Stellar Trading Systems, Trading Technologies and Trayport.

Market making and liquidity provider programs are run by every exchange and are instrumental in how new futures markets are built. Abaxx management provided a comprehensive overview of the role of the incentive programs in how markets grow, and what investors should expect in terms of growth, volume, and open interest (“OI”) during the Company’s Q4’25 Earnings and Business Update Call on April 2, 2026 — a recording and transcript of which can be accessed at https://investors.abaxx.tech/events. The costs associated with these programs can be viewed in the Company’s financial statements dated March 31, 2026 and May 15, 2026.

The report also criticizes the prevalence of calendar spread trading and lack of open interest, both of which are to be expected in a new market. As the trading activity of incentivized participants creates the initial liquidity needed for commercial hedgers to enter the market — hedgers who are more apt to put on outright positions and hold open interest — the Company expects both volumes and OI to increase.

The Viceroy report incorrectly implies that Kilo Capital and Ivanhoe Capital are acting as undisclosed market makers or liquidity providers on Abaxx Exchange. Ivanhoe Capital and Kilo Capital are not, and have not been, a part of any market making or liquidity provider programs on Abaxx Exchange. The two firms participated in the Company’s Digital Title Pilot Program, which has been intentionally conducted outside of the Abaxx Exchange and Abaxx Clearing environments, as confirmed on Abaxx’s August 2025 Mid-Year Investor Update Call. For more details on the Digital Title Pilot Program, including a video of the pilot transaction, please visit https://digital-title.abaxx.tech/.

The report also tries to paint a picture of Abaxx being in financial difficulty, stating we have a burn rate of ~C$25 million per quarter. This figure is materially inaccurate. The report overstates the Company’s net cash burn rate by over 50% over the past two reported quarters. The true net cash burn rate is readily available in our published financial statements. Following the Company’s recent raise of C$69 million, the Company is in a secure financial position to meet its business objectives.

There were other accusations of failing to disclose material information, including an allegation that the Company failed to disclose the exit of Cboe as a strategic partner. Cboe was an early investor in the Company’s subsidiary, Abaxx Singapore, investing US$1mm in January 2024. However, the strategic opportunity was primarily related to Cboe’s global listings program, announced by Cboe in June of 2023 — which intended to allow all issuers listed on Cboe's U.S. and Canada exchanges to also be made available for trading on Cboe’s Netherlands-, Australia-, and UK-based exchanges — did not come to fruition, due to a strategic change in Cboe’s business plans under new leadership. Cboe has since divested their Canadian and Australian assets.

Given Cboe’s non-pursuit of their global listings program, during a recent ownership consolidation, Cboe used the liquidity event to sell their position in Abaxx Singapore back to Abaxx Technologies Corp., a subsidiary of Abaxx, which sale was disclosed in a material change report dated March 4, 2026 and is available on the Company’s SEDAR+ profile. As a result of the consolidation, Abaxx Technologies Corp., a subsidiary of Abaxx, now owns 95.41% of Abaxx Singapore. In the same consolidation, an existing strategic investor used the event to increase their investment. The consolidation was net accretive to Abaxx shareholders and, as disclosed in our recent regulatory filings, was not a factor in the Company’s decision to raise $69 million CAD through its recent bought deal financing.

In an additional report, dated June 15, 2026, Viceroy alleges that the Abaxx Exchange is merely an 'off-the-shelf' product with no proprietary technology. This characterization is incorrect. The architecture of a regulated exchange and clearinghouse encompasses far more than a matching engine; it encompasses a network of institutions connected via independent software vendors, data distributors, clearing members and settlement banks.

Abaxx has formally responded to the relevant regulatory authorities in both Canada and Singapore regarding Viceroy's allegations and has offered full cooperation and access to all relevant records.

Abaxx Investor Update Call Scheduled for June 18, 2026
Abaxx is proud of its high level of engagement and transparency with shareholders. The Company will host an investor update call tomorrow Thursday, June 18, 2026 at 4:30 pm ET to answer questions that we have been receiving on this matter. Questions may be submitted in advance to ir@abaxx.tech.

Registration is required to access the meeting. A recording of the session will be made available afterward on the Abaxx Investor Relations website at investors.abaxx.tech.

CALL DETAILS
DATE: Thursday, June 18, 2026
TIME: 4:30 p.m. EDT
LOCATION: Zoom Meeting

To register for the Investor Update Call, please register HERE.

About Abaxx Technologies
Abaxx Technologies Inc. (TSX: ABXX | OTCQX: ABXXF) is building Smarter Markets: markets empowered by better tools, better benchmarks, and better technology to drive market-based solutions to the biggest challenges we face as a society, including the energy transformation and the transition to an AI-augmented economy.

In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is the majority shareholder of Abaxx Singapore, the owner of Abaxx Exchange and Abaxx Clearing, and the parent company of wholly owned subsidiaries Abaxx Spot and Adaptive Infrastructure.

Abaxx Exchange delivers the market infrastructure critical to the shift toward an electrified, low-carbon economy through centrally-cleared, physically-deliverable futures contracts in LNG, carbon, battery materials, and precious metals, meeting the commercial needs of today’s commodity markets and establishing the next generation of global benchmarks.

Abaxx Spot modernizes physical gold trading through a physically-backed gold pool in Singapore. As a co-located spot and futures market for gold, Abaxx Spot enables secure electronic transactions, efficient OTC transfers, and is designed to support physical delivery for Abaxx Exchange’s physically-deliverable gold futures contract, providing integrated infrastructure to deliver smarter gold markets.

Adaptive Infrastructure closes critical gaps in post-trade infrastructure by providing a unified custodial foundation across environmental markets and digital title assets. Incorporated in Barbados and regulated by the Financial Services Commission of Barbados, the company delivers institutional-grade custody, settlement, and transfer agency services designed to reduce risk and improve reliability across asset classes.

Abaxx Labs is the Company’s center for engaging with the developer community to create the next generation of technology that will build smarter markets through open-source software tools that promote the use of Abaxx’s ID++ technologies.

For more information, visit abaxx.tech | abaxx.exchange | abaxxspot.com | basecarbon.com | 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: +1 246 271 0082
E-mail: ir@abaxx.tech

Cautionary Statement Regarding Forward-Looking Information
This press release includes certain “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities laws. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “believe”, “anticipate”, “estimate”, “project”, “intend”, “expect”, “may”, “will”, “plan”, “should”, “would”, “could”, “target”, “purpose”, “goal”, “objective”, “ongoing”, “potential”, “likely” or the negative thereof or similar expressions.

In particular, this press release contains forward-looking statements including, without limitation, Abaxx’s objectives and future plans, its financial position and ability to achieve its business objectives and the benefits of the acquisition of the ordinary shares of Abaxx Singapore. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. 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: the failure of energy markets and collateral use cases to develop according to the expectations of Abaxx; 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; changes in global weather patterns; changes in the price of commodities, capital market conditions, restrictions on labor and international travel and supply chains, and the risk factors identified in the Company’s most recent management’s 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. Neither the Toronto Stock Exchange nor any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Abaxx Refutes Misinformation Being Circulated and Addresses Recent Share Price Decline