Xigem Technologies to Develop Remote Technology Platform for Baketree Inc.
April 27, 2021
iAgent to Help Manage Distribution and Customer Service
TORONTO, April 27, 2021 – Xigem Technologies Corporation (CSE:XIGM) (FSE:2C1) (“Xigem” or the “Company”), a technology provider for the emerging remote economy, today announced that it signed a letter of intent on April 13, 2021 (the “LOI”) with commercial bakery Baketree Inc. (“Baketree”) to develop a cloud-based technology platform based on the Company’s iAgent software.
Baketree serves some of North America’s largest and best-known grocery and mass merchant retailers, and provides contract manufacturing services to other large commercial bakeries. The U.S. bakery products market has been estimated at US$94 billion in 2020, with the global market expected to grow at a compound annual growth rate of 3.9% through to 2027.1
Xigem will work with Baketree to help track its assets in the field and match its team members to customer inquiries.
“In additional to its quality baked goods, a business like Baketree thrives by being responsive to its customers and by effectively managing a complex distribution network that delivers products to thousands of locations. With iAgent, we intend to enhance Baketree’s ability to manage that complexity,” said Brian Kalish, co-founder and CEO of Xigem Technologies.
“Our business has evolved rapidly in response to the changes affecting food retailers, such as greater consumer awareness of nutritional profile and most recently, a shift towards home consumption and online grocery orders,” said Eric Shtapler, President of Baketree Inc. “It is vital for us to ensure our sales and service teams are responding quickly to customers, and that we know exactly where our delivery assets are. We are looking to iAgent to help us continue to manage our growth as we operate with more of a remote model.”
Operating within the Software-as-a-Service (“SaaS”) market, which is estimated to be $300 billion globally by 20262, iAgent is a U.S. patented and Canadian patent pending cloud-based technology that will provide organizations with the infrastructure necessary to manage employees, assets and operations remotely. iAgent can be tailored for businesses to enable them to remotely track and manage assets, transactions, fulfilment and service cycles while seamlessly integrating with most CRM and ERP systems to profitably optimize the consumer, treatment seeker and learning experience.
Pursuant to the LOI, and upon signing a definitive agreement and the completion of the customization, Xigem will license the iAgent platform to Baketree on a SaaS basis for an annual licensing fee.
1 Source: Reportlinker, April 2021.
2 Source: Valuates Reports estimate, June 2020
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