Toronto, Ontario--(Newsfile Corp. - July 5, 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 filed an application with the OTC Markets Group for its common shares to trade on the OTCQB® Venture Market ("OTCQB").
The OTCQB is a leading market for early-stage and developing U.S. and international companies. Recognized as an established public market by the U.S. Securities and Exchange Commission, the OTCQB has helped companies build considerable shareholder value including enhanced liquidity and valuation. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process, in addition to a variety of other typical regulatory requirements.
"Trading on the OTCQB would be a meaningful step in enhancing shareholder value," said Brian Kalish, co-founder and CEO of Xigem. "We anticipate that an OTCQB listing would lead to increased liquidity and visibility among U.S and global traders, at a time when the remote economy continues to rapidly emerge and thrive."
OTCQB trading offers companies the advantages of being publicly traded in the U.S. with lower cost and complexity. Investors may benefit from efficient trading through their preferred broker or financial advisor, transparent pricing with real-time quotes, and trusted disclosure that is made broadly available to broker-dealers and market data providers.
Xigem's application process is well underway, having commenced with its submission of Form 211 to the Financial Industry Regulatory Authority (FINRA), a U.S. government-authorized not-for-profit organization. The Company has also submitted an application to OTC Markets Group, the operator of OTCQB, along with a background check of its Officers and Directors, and has paid its initial listing fee. The Company expects to pursue DTC eligibility for its common shares through the Depository Trust & Clearing Corporation (DTCC) upon clearance of the Form 211. Xigem looks forward to working with these parties to complete the Company's OTCQB application process during the third quarter of 2021.
Xigem also announced an extension to its previously announced agreement with Messina Consulting to provide European market awareness, media buying and public relations services. The extension covers two separate three-week periods in July and August 2021, for a fee of €25,000 per week.
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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. In particular, forward-looking statements in this news release include, but are not limited to, statements with respect to (i) the success of its application to trade on the OTCQB, (ii) improved liquidity, valuation or access to additional investors. Forward-looking statements necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Such risks and factors include, but are not limited to the Company's inability to secure or maintain regulatory, exchange and/or other approvals necessary to continue its business operations as proposed. Although the management believes that the expectations and assumptions on which such forward looking information is based are reasonable, readers are 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. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. Forward-looking statements, forward-looking financial information and other metrics presented herein are not intended as guidance or projections for the periods referenced herein or any future periods, and in particular, past performance is not an indicator of future results and the results of the Company in this news release may not be indicative of, and are not an estimate, forecast or projection of the Company's future results. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89315
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