Xigem Technologies Voluntarily Withdraws from OTCQB
October 5, 2021
TORONTO, ON, October 5, 2021 – Xigem Technologies Corporation (“Xigem” or the “Company”) (CSE:XIGM; OTCQB:XIGMF; FSE:2C1), today announced it has provided the OTC Markets Group, operators of the OTCQB® Venture Market (“OTCQB”) with the requisite 24 hours notice to voluntarily withdraw its common shares from trading on the OTCQB, pursuant to Rule 4.3 of the OTCQB Standards. Accordingly, the Company expects that its shares will no longer trade on the OTCQB after the close of trading on October 6, 2021.
“A combination of policy changes at the OTC Markets Group coupled with an unproductive short selling environment have led us to conclude that, despite our best efforts, the OTCQB does not represent an effective venue through which to support and create value for our shareholders,” said Brian Kalish, co-founder and CEO of Xigem.
The Company has also advised the OTC Markets Group that it will not directly be filing any continuous disclosure or financial materials to any of the OTC Markets Group platforms and has requested that its common shares no longer be quoted on the OTC Markets Group Pink Market over-the-counter platform.
The Company will continue to invest in and support the trading of its common shares which trade on the Canadian Securities Exchange under the symbol “XIGM” and through the Deutsche Börse Group under the symbol “2C1”. Investors may find information and trading statistics on Xigem at: https://thecse.com, https://www.tradegate.de and https://www.boerse-frankfurt.de.
About Xigem Technologies Corporation
Established in Toronto, Ontario, Xigem is positioned to become a leading technology provider 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, and FOOi, its proprietary peer-to-peer mobile payments app, will provide organizations, businesses and consumers with the tools necessary to thrive in a vast array of remote working, learning and treatment environments, while the Company looks to aggregate a portfolio of innovative technologies capable of disrupting traditional business models.
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