XTM Announces Proposed Offering of Securities
13 Diciembre 2023 - 4:45PM
Business Wire
XTM Inc. (“XTM” or the “Company”) (CSE:PAID; QB:
XTMIF; FSE:7XT), announces that it has commenced a non-brokered
private placement offering for aggregate gross proceeds of up to
US$5,000,000 (the “Offering”) of units of the Company (each
a “Unit”). Each Unit will consist of (i) one secured
convertible debenture in the principal amount of US$1,000 at a rate
of 12% per annum from the date of issuance and shall be convertible
at the option of the respective holders thereof into common shares
in the capital of the Company (the “Common Shares”) at a
price of US$0.11 per Common Share at any time for a period of 24
months from the initial closing date (the “Initial Closing
Date”), and (ii) 1,000 warrants (“Warrants”) to purchase
Common Shares upon payment of US$0.11 to the Company for a period
of 24 months from the Initial Closing Date.
The Company intends to use the net proceeds of the Offering for
capital expenditures and general corporate and working capital
purposes. The proposed Offering is expected to close on or about
December 19, 2023, or such later date as the Company may determine
(the “Closing”). The Closing is subject to certain
conditions including, but not limited to, the satisfaction of
customary closing conditions and the receipt of regulatory
approvals, including the approval of the Canadian Securities
Exchange (the “CSE”). There can be no assurance as to
whether or when the proposed Offering may be completed, or as to
the actual size or specific terms of the Offering.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States of America. The securities have not been and will not be
registered under the United States Securities Act of 1933 (the
“U.S. Securities Act”) or any state securities laws, and may
not be offered or sold within the United States or to U.S. Persons
(as defined in the U.S. Securities Act) unless registered under the
U.S. Securities Act and applicable state securities laws, or an
exemption from such registration is available.
The securities issued in connection with the Offering are
subject to a statutory hold period of four months and one day from
the date of issuance.
About XTM
XTM is a Miami and Toronto, Denver and London-based Fintech
creator of payment innovations including fully certified and
vertically integrated Earned Wage Access through its QRails AnyDay™
product. Founded in the cloud-banking space to further support
businesses to inspire their workforce in the hospitality, personal
care and services staffing industries, XTM provides on-demand pay
for many large brands including Earls, Maple Leaf Sports &
Entertainment, Cactus Club, Marriott Hotels and Live Nation. XTM
continues to innovate with further digital featurization to support
businesses to inspire workers to want to work more with shift
scheduling and call-outs, staff management, expense management,
in-app health and financial wellness; and gamified loyalty
programs. XTM's Today Financial™ is in use through POS and Payroll
integrations and directly through web-portals by thousands of
businesses and their workers across Canada and the United
States.
About QRails / AnyDay
QRails Inc. (“QRails”) is a fully owned subsidiary of
XTM. A cloud-based, API-driven issuer-processor QRails enables
payroll providers, financial institutions and other global fintech
companies to keep up with the on-demand economy by delivering
innovative digital payment solutions to their employees. QRails
helps companies modernize and leverage payroll as a differentiator
in attracting and retaining talent all at low to no cost for the
employee and employer. QRails’ flagship solution, AnyDay™, is the
first provider to own their full tech stack that powers their
Earned Wage Access solution.
Cautionary Notes
Forward-Looking Statements:
This news release includes certain statements and information
that constitute forward-looking information within the meaning of
applicable Canadian securities laws. All statements in this news
release, other than statements of historical facts are
forward-looking statements. Such forward-looking statements and
forward-looking information specifically include, but are not
limited to, statements that relate to the terms, timing and
completion of the Offering and the pricing in respect thereof, the
use of proceeds of the Offering; and timely receipt of all
necessary approvals, including any requisite approval of the
CSE.
Statements contained in this release that are not historical
facts are forward-looking statements that involve various risks and
uncertainty affecting the business of the Company. Such statements
can generally, but not always, be identified by words such as
“expects”, “plans”, “anticipates”, “intends”, “estimates”,
“forecasts”, “schedules”, “prepares”, “potential” and similar
expressions, or that events or conditions “will”, “would”, “may”,
“could” or “should” occur. All statements that describe the
Company’s plans relating to operations and potential strategic
opportunities are forward-looking statements under applicable
securities laws. These statements address future events and
conditions and are reliant on assumptions made by the Company’s
management, and so involve inherent risks and uncertainties, as
disclosed in the Company’s periodic filings with Canadian
securities regulators. As a result of these risks and
uncertainties, and the assumptions underlying the forward-looking
information, actual results could materially differ from those
currently projected, and there is no representation by the Company
that the actual results realized in the future will be the same in
whole or in part as those presented herein.
The risk factors and uncertainties that could cause actual
results to differ materially from the anticipated results or
expectations expressed in this press release, include, without
limitation: the ability of XTM to satisfy the conditions to Closing
of the Offering, including obtaining approval of the CSE on a
timely basis, or at all; that the Offering may not be completed on
the terms and timeline indicated, or at all; that the Company’s use
of proceeds of the Offering may differ from those indicated;
additional financing requirements; adverse market conditions; and
other risk factors described from time to time in the Company’s
securities filings.
The Company disclaims any intent or obligation to update
forward-looking statements or information except as required by
law. Readers are referred to the additional information regarding
the Company’s business contained in the Company’s reports filed
with the securities regulatory authorities in Canada. Although the
Company has attempted to identify important factors that could
cause actual actions, events, or results to differ materially from
those described in forward-looking statements, there may be other
factors that could cause actions, events or results not to be as
anticipated, estimated or intended. For more information on the
Company and the risks and challenges of its business, investors
should review the Company’s filings that are available at
www.sedarplus.ca.
The Company provides no assurance that forward-looking
statements and information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements or information. Accordingly, readers
should not place undue reliance on forward-looking statements or
information. The Company does not undertake to update any
forward-looking statements, other than as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231213828169/en/
For further information, please visit www.xtminc.com or
contact:
Marilyn Schaffer 416.260.1641 finance@xtminc.com
XTM (TG:7XT)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
XTM (TG:7XT)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024