ABXXF - Abaxx Technologies trades low after capital raise

Abaxx Technologies (ABXXF) to purchase on a bought deal basis 3,947,400 units at a price of C$3.80 per unit, gross proceeds of ~C$15M.Closing is expected on or about April 29, 2021.Each Unit will consist of one common share and one-half of one common share purchase warrant; each Warrant will entitle the holder to acquire one share at an exercise price of C$5.10 for a period of 24 months following the closing of the offering.Underwriters' option to purchase up to an additional 592,110 shares.Net proceeds of the Offering will be used for ongoing regulatory capital, working capital and general corporate purposes.Shares -3.6% after hours.

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Abaxx Technologies trades low after capital raise