Xigem Technologies Announces Shares for Debt Transaction
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Toronto, Ontario – (Newsfile Corp. – April 14, 2021) – Xigem Technologies Corporation (CSE: XIGM) (FWB: 2C1) (“Xigem” or the “society“), a technology provider serving the emerging remote economy, announced today that it has entered into debt settlement agreements with three third party creditors that require the company to total $ 76,000 in outstanding debt through the issuance of 361,904 common shares of the company (one each”share“) at an assumed price of $ 0.21 per Share (the”Debt settlement“).
The majority of the shares issued in connection with the settlement of the debt are subject to a four month hold period under applicable securities laws, with the exception of 47,619 shares, which are immediately freely traded under Section 2.3 of the Ontario Securities Commission Rule 72-503.
All share issues are subject to applicable government approval, including the approval of the Canadian Securities Exchange.
About Xigem Technologies Corporation
Founded in Toronto, Ontario, Xigem Technologies Corporation (CSE: XIGM) (FWB: 2C1) is poised to become a leading SaaS technology platform for the emerging remote economy, with nearly $ 1 trillion in volume, with software, which can improve capacity, productivity, and the overall remote economy for businesses, consumers, and other organizations. The company’s patented technology, “iAgent,” will provide organizations, businesses and consumers with the tools they need to thrive in a variety of remote working, learning and treatment settings.
iAgent is a mobile, geographic application for customer acquisition and retention. iAgent will match sales and services with consumers, treatment seekers and students in real time. For companies and institutions, iAgent can be tailored to remotely track and manage assets, transactions, fulfillment and service cycles while integrating with most CRM and ERP systems. For consumers, treatment seekers, and students, iAgent enables remote fulfillment and engagement with the everyday goods and services they need.
CAUTION ON FORWARD-LOOKING STATEMENTS
This press release may contain certain “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. All information contained herein that is not historical in nature may constitute forward-looking information. Xigem is under no obligation to comment on any analysis, expectations, or statements by any third party regarding Xigem, its securities, or its financial or operating results (if any). Although Xigem believes that the expectations reflected in the forward-looking statements in this press release are reasonable, such forward-looking statements are based on expectations, factors and assumptions about future events that may prove to be inaccurate and involve numerous risks and factors Subject to uncertainties some of which are beyond Xigem’s control. The forward-looking information contained in this press release is expressly limited by this cautionary notice and is effective as of the date of this publication. Xigem disclaims any intention and assumes 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 regulatory agency (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Xigem Technologies Corporation
In the name of the company:
Brian Kalish, Chief Executive Officer
For more information:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80386