Abaxx Continues to Provide Facts Refuting Ongoing Misinformation and Reaffirms Strong Business Fundamentals

Neither the Company nor its subsidiaries are under investigation by any regulator
Urges CIRO to investigate potentially manipulative or deceptive trading activity in Abaxx’s common shares
Retains leading U.S. law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP to investigate wrongdoing by Viceroy and its affiliates

TORONTO, June 21, 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. (“Abaxx Singapore”), the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), today provided additional facts refuting ongoing misinformation published about the Company by Viceroy Research Group (“Viceroy”).

Regulatory outreach and potential litigation

The Company believes Viceroy’s “reports” about the Company amount to nothing but a short-and-distort campaign, containing numerous false, unfounded and meritless statements about its business. The sole purpose of Viceroy’s campaign is to profit from a decline in the price of Abaxx common shares at the expense of its long-term shareholders.

As a result, Abaxx has contacted the Canadian Investment Regulatory Organization (“CIRO”) to inform the regulator of the reckless and defamatory allegations that have been made against the Company by Viceroy and to request that CIRO investigate potentially manipulative or deceptive trading activity in Abaxx’s common shares by Viceroy and any other parties. Abaxx Exchange has also proactively reached out to its regulator, the Monetary Authority of Singapore (“MAS”), regarding Viceroy’s allegations, given Viceroy is plainly seeking to undermine confidence in trading activity on Abaxx Exchange.

In addition, the Company has retained the leading U.S. law firm of Paul, Weiss, Rifkind, Wharton & Garrison LLP to investigate wrongdoing related to Viceroy’s campaign and its trading in the Company’s common shares.

Abaxx also provided the following additional facts about its business to give investors a true picture of its current position:

The Company is not under investigation

Neither the Company nor its subsidiaries are under investigation by any regulator.
As described above, the Company has been in contact with regulators and plans to continue to keep them informed of the current situation.

The Company is financially secure with robust levels of cash on its balance sheet

The Company holds more than C$97 million in cash and cash equivalents as of June 2026.
The current net cash burn rate has averaged C$12.3 million over the past 2 completed quarters.
This is sufficient to fund current operational plans for approximately the next seven quarters without the need to raise additional funds.

Wash trading is illegal and not permitted on Abaxx Exchange

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 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, and suspension or termination of offending parties, as outlined in Rule 209 in the Exchange rulebook.
None of the participants in Abaxx Exchange’s market making and liquidity provider programs are undisclosed related parties.

Abaxx Exchange ecosystem of clearing firms, ISVs, and brokers continues to grow

Clearing firms, ISVs, and brokers are some of the most sophisticated participants in the industry, and create the ecosystem through which participants trade on Abaxx Exchange.
Connecting to a new exchange requires a substantial investment of time and money, and they continue to make that investment: there are now 11 ISVs connected, with 5 more in the pipeline; there are now 7 clearing firms connected, with 14 more in the pipeline; and there are currently 22 brokers connected to Abaxx Exchange, with 10 more in the pipeline.

Trading activity continues to grow

Abaxx Exchange is building new markets. Like any new market, part of their natural growth to maturity includes low open interest relative to volume, more spread trading, and trading being dominated by participants in incentive programs as they create the initial liquidity necessary for commercial participants to trade in these markets.
These markets are growing, with June-to-date average daily volume and open interest on the Exchange already surpassing May: through June 19, 2026, the average daily volume (“ADV”) on the Exchange for June was 16,846 contracts per day and the average daily open interest (“OI”) was 1,343, compared to 15,092 and 405 for May, which represents an increase of 12% and 232%, respectively.

Abaxx is proud of its high level of engagement and transparency with shareholders. For further investor inquiries, shareholders can email ir@abaxx.tech.

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 Inquiries
Tara Hayes
tara@abaxx.tech

Investor Inquiries
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 continue operations over the stated time period, its plans to engage with regulators to defend itself against unfounded allegations and the anticipated growth of the Company and its market infrastructure. 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.

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