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XTM Announces Completion Of Securites For Debt Settlement

December 14, 2023

Toronto, Canada – December 14, 2023 – XTM INC. (“XTM” or the “Company”) (CSE:PAID; QB: XTMIF; FSE:7XT), is announcing that it has completed its securities for debt settlement as announced by the Company on November 30, 2023 (the “Debt Settlement”).

The Company agreed to settle debts in the aggregate amount of C$592,775 with the issuance of 4,425,356 common shares of the Company (“Common Shares”) as full and final payment of the debt to Ontario based creditors. The Debt Settlement consisted of:

  • C$3,800.00 in debt settled by the issuance of 40,000 Common Shares at a price of C$0.095 per Common Share;

  • C$240,000.00 in debt settled by the issuance of 2,000,000 Common Shares at a price of C$0.12 per Common Share;

  • C$125,000.00 in debt settled by the issuance of 892,857 Common Shares at a price of C$0.14 per Common Share;

  • C$42,050.00 in debt settled by the issuance of 290,000 Common Shares at a price of C$0.145 per Common Share;

  • C$168,750.00 in debt settled by the issuance of 1,125,000 Common Shares at a price of C$0.15 per Common Share; and

  • C$13,175 in debt settled by the issuance of 77,500 Common Shares at a price of C$0.17 per Common Share.

The Common Shares issued in connection with the Debt Settlement will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45-102 – Resale of Securities.

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.

For further information, please visit or contact:

Marilyn Schaffer


This press release contains certain forward-looking statements, including statements about the Company's future plans and intentions and completion of the shares for debt transaction. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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