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TORONTO, April 05, 2024 (GLOBE NEWSWIRE) — Joshua Crumb, chief executive officer of Abaxx Technologies Inc. (“Abaxx”), would like to announce an update to his beneficial ownership of Abaxx pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”). Mr. Crumb has been granted 150,000 stock options to purchase an equivalent amount of common shares (the “Shares”) of Abaxx on April 2, 2024 (the “Issuance”). As reported on December 24, 2020, Mr. Crumb held 11,263,779 securities of Abaxx, representing approximately 17.7% of Abaxx’s issued and outstanding Shares on a partially diluted basis. Following the Issuance, Mr. Crumb holds or exercises direction or control over 4,269,038 securities of Abaxx, representing 12.87% of Abaxx’s issued and outstanding Shares on a partially diluted basis. As a result of the Issuance and certain issuer events of Abaxx, Mr. Crumb’s holdings in Abaxx have changed by more than 2% on a partially diluted basis since the filing of Mr. Crumb’s previous early warning report.

Mr. Crumb acquired the stock options as executive compensation for his role as chief executive officer of Abaxx. In the future, Mr. Crumb may acquire and/or dispose of securities of Abaxx through the market, privately or otherwise, as circumstances or market conditions may warrant. The Shares are listed for trading on the Cboe Canada Exchange under the symbol “ABXX”. Abaxx is located at 110 Yonge Street, Suite 1601, Toronto, ON M5C 1T4.

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This news release is issued pursuant to NI 62-103, 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 will be made available under Abaxx’s profile on SEDAR+ (www.sedarplus.ca).

For further information or to receive a copy of the early warning report, please contact:

Joshua Crumb
110 Yonge Street, Suite 1601 |
Toronto, ON M5C 1T4
T: 647-259-1790

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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