Toronto, Ontario--(Newsfile Corp. - September 3, 2021) - Xigem Technologies Corporation (CSE: XIGM) (OTCQB: XIGMF) (FSE: 2C1) ("Xigem" or the "Company"), a technology provider for the emerging remote economy, today announced that it has entered into a debt settlement agreement with an arm's length creditor whereby the Company will settle outstanding payables totalling $200,000 through the issuance of 952,381 common shares of the Company (each a "Share") at a deemed price of $0.21 per Share (the "Debt Settlement").
The Shares will be subject to a four-month hold period in accordance with applicable securities laws. All share issuances are subject to applicable regulatory approval, including the approval of the Canadian Securities Exchange.
The Company also announced the recent exercise of certain warrants at an exercise price of $0.07 per common share of Xigem (the "Warrants"). To date, 2,275,000 Warrants have been exercised for gross proceeds of $159,250.
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, 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
For further information:
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