Abaxx Technologies Issues Strong Defiance Against Market Misinformation
TORONTO — Abaxx Technologies Inc. has issued a robust formal rebuttal following a sharp decline in its share price, which recently slumped to C$35.84—a level not seen since March. Despite reaching significant operational milestones, including a listing on the Toronto Stock Exchange (TSX) and the successful closing of a C$69 million bought deal financing at C$54.25, the company has faced a wave of public accusations. Management insists that the company’s business strategy remains steadfast and that these external claims lack factual merit, prompting a dedicated effort to clear the air for investors.
At the center of the controversy is a report by Viceroy Research, which attempted to characterize Abaxx’s market maker and liquidity incentive programs as fraudulent. Abaxx categorically refutes this, emphasizing that such programs are standard industry practices used globally to foster initial exchange volume. The company reiterated that “wash trading” is explicitly prohibited under Rule 508 of the Abaxx Exchange rulebook, which is supported by a sophisticated regulatory surveillance program. Abaxx maintains that its trading data is fully transparent and available through major third-party distributors, including LSEG and TradingView.
The company further dismantled claims that specific entities, namely Kilo Capital and Ivanhoe Capital, were acting as undisclosed market makers. Abaxx clarified that these firms were solely involved in its Digital Title Pilot Program—a project intentionally conducted outside of the formal exchange and clearinghouse environment. Regarding allegations of financial instability, the company dismissed the reported “burn rate” of C$25 million per quarter as a material inaccuracy, stating the actual cash burn is over 50% lower than what was alleged. The company confirmed it remains in a secure financial position to meet its stated growth objectives.
Addressing internal shifts, Abaxx clarified the circumstances surrounding the exit of Cboe as a strategic partner. Although Cboe had previously invested in Abaxx Singapore, their departure was the result of a broader strategic pivot by Cboe’s new leadership to divest from certain global assets rather than a reflection on Abaxx’s health. Abaxx Technologies Corp. subsequently reacquired Cboe’s stake, resulting in a 95.41% ownership interest in Abaxx Singapore. This move was described as net accretive to shareholders and was officially disclosed in a material change report filed on March 4, 2026.
Beyond financial and structural allegations, the company rejected the claim that its exchange platform is an “off-the-shelf” product. Management emphasized that the exchange architecture is a complex, proprietary ecosystem that connects a vast network of clearing members, settlement banks, and institutional software vendors. Abaxx confirmed that it has already formally responded to regulatory authorities in Canada and Singapore, offering full cooperation and access to all necessary records to demonstrate the integrity of its technological infrastructure.
To ensure transparency and maintain open dialogue, Abaxx has scheduled an investor update call for June 18, 2026, at 4:30 p.m. ET. The session is designed to address shareholder questions directly and provide a platform for management to reiterate the company’s mission of building “Smarter Markets.” As Abaxx continues to position itself as a key player in the electrified economy through its physically-deliverable futures contracts in LNG and carbon, the leadership remains confident that the company’s fundamentals will withstand the recent misinformation campaign.