Xigem’s Cylix Data Corporation to Launch Next Generation of Business Risk Product
February 15, 2022
Powerful New Platform will be a One-Stop Shop for Business Risk Intelligence
TORONTO, ON, February 15, 2022 – Xigem Technologies Corporation (“Xigem” or the “Company”) (CSE:XIGM; FSE:2C1), a technology provider for the emerging remote economy, today announced that its wholly owned subsidiary, Cylix Data Corporation, is launching the next generation of its Cylix Data business risk profiling platform which includes a robust technology architecture, complete with an intuitive new user interface, to create a new sustainably differentiated, best-in-class business intelligence platform.
The new Cylix Data release will be fully cloud-based and incorporates state-of-the-art artificial intelligence capabilities to offer a more intuitive and responsive user experience. Where the industry standard is currently based on manual processes to deliver intelligence to consumers, Cylix’s results will come entirely by way of automation. Just some benefits for customers include their ability to customize queries, obtain streamlined web-based and PDF reports and seamlessly complete more searches, more rapidly.
Cylix Data offers a one-stop shop for business risk assessment. The software sorts through a multitude of data points to provide the most comprehensive information available in the market, in a format most relevant to each user. Customers can use the results to make better business decisions, in turn mitigating risk relating to their suppliers, customers and partners.
“The launch of Cylix’s next generation platform is the first of a series of important enhancements we plan to unveil in the coming months. We are very excited about introducing the new features and functionality to both existing and new customers,” said Ezio D’Onofrio, President, Cylix Data Corporation. “Applying updated capabilities to our existing data engine leads to an unmatched business intelligence product that will enable significantly improved decisions.”
Over a thirty year operating history, the assets underlying Cylix Data have established it as one of the most comprehensive sources of business risk information available today. Powered by a proprietary database holding more than 74 million continually refreshed data points, Cylix’s data has been trusted by hundreds of businesses including large blue-chip companies and leading professional services firms.
Typical applications of Cylix’s data have included assessing the financial viability of new business partners, completing due diligence, obtaining risk assessment information, avoiding supply chain disruptions and preventing fraud. Cylix Data Corporation’s near-term product roadmap includes enhancements designed to improve outcomes for each of these uses.
As previously disclosed, Cylix Data Corporation is in the final stages of a nearly $1 million upgrade to its technology platform.
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, FOOi, its proprietary peer-to-peer mobile payments app, and Cylix Data, its business intelligence engine, 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 contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward- looking statements contained herein include, but are not limited to, statements regarding: the features of the technology being invested in (including but not limited to the anticipated interface); the launch of the next generation of the Cylix Data business risk profiling platform; the functionality and capabilities of the data release and benefits relating to it; the information available through Cylix Data; and future enhancements to the products disclosed in the press release and other features of the anticipated product roadmap.
Forward-looking information in this news release is based on certain assumptions and expected future events, namely: the continued commercial viability and growth in popularity of the Company’s and Cylix’s applications; the ability to continue to advance the development of Cylix’s products; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the ability of Cylix to enhance features and functionality of its products as currently anticipated; the success of the launch of the next generation of the Cylix Data business risk profiling platform; continued market demand for Cylix’s products; continued development of the Company’s and Cylix’s technologies; the continued growth of the Company and Cylix; and the continued growth of the industry the Company operates in.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with the technology and data industries in general; increased competition in the technology and data markets; the potential future unviability or limited viability of the Company’s and Cylix’s product offerings; incorrect assessment of the value and potential benefits of the products described in this press release and the expected enhancements to such products; risks associated with potential governmental and/or regulatory action with respect to the Company’s activities; risks associated with a potential collapse in the value of data-related services; the inability of Cylix to enhance functionality of its product offerings and/or to complete the successful launch of the next generation of the Cylix Data business risk profiling platform; and risks with respect to market demand for Cylix’s products.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
SOURCE: Xigem Technologies Corporation
On behalf of the Company:
Brian Kalish, Chief Executive Officer