Xigem Technologies Announces Shares for Debt Transaction
April 14, 2021
TORONTO, April 14, 2021 – Xigem Technologies Corporation (CSE:XIGM) (FSE:2C1) (“Xigem” or the “Company”), a technology provider for the emerging remote economy, today announced that it has entered into debt settlement agreements with three arm’s length creditors whereby the Company will settle outstanding payables totalling $76,000 through the issuance of 361,904 common shares of the Company (each a “Share”) at a deemed price of $0.21 per Share (the “Debt Settlement”).
The majority of the Shares issued in connection with the Debt Settlement will be subject to a four- month hold period in accordance with applicable securities laws, with the exception of 47,619 Shares which will be immediately free trading pursuant to section 2.3 of Ontario Securities Commission Rule 72-503.
All share issuances are subject to applicable regulatory approval, including the approval of the Canadian Securities Exchange.
About Xigem Technologies Corporation
Established in Toronto, Ontario, Xigem Technologies Corporation (CSE:XIGM) (FSE:2C1) is positioned to become a leading SaaS technology platform for the emerging near trillion dollar remote economy, with software capable of improving the capacity, productivity, and overall remote operations for businesses, consumers and other organizations. “iAgent,” the Company’s patented technology, will provide organizations, businesses and consumers with the tools necessary to thrive in a vast array of remote working, learning and treatment environments.
iAgent is a mobile, geo-targeted customer acquisition and retention application. iAgent will match sales and services with consumers, treatment seekers and students in real time. For businesses and institutions, iAgent can be tailored to remotely track and manage assets, transactions, fulfilment and service cycles while integrating with most CRM and ERP systems. For consumers, treatment seekers and students, iAgent remotely enables fulfilment and engagement with the everyday goods and services they demand.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release may contain certain “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Xigem undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Xigem, its securities, or financial or operating results (as applicable). Although Xigem believes that the expectations reflected in forward-looking statements in this news release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Xigem’s control. The forward-looking information contained in this news release is expressly qualified by this cautionary statement and is made as of the date hereof. Xigem disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Xigem Technologies Corporation
On behalf of the Company:
Brian Kalish, Chief Executive Officer