XTM Inc. Announces Oversubscribed Private Placement and Closure of the Order Book
SEPTEMBER 21, 2021
MIAMI, TORONTO, September 20, 2021 – XTM, Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech company in the neo-banking space, providing mobile banking and payment solutions for the hospitality and personal care industries throughout North America, is pleased to announce, further to its press release of September 14, 2021 announcing a Non-Brokered Private Placement Offering (the "Offering") of up to 15,000,000 units of the Company (“Units”) at a price of $0.40 per Unit and with gross proceeds of up to $6,000,000, that this offering has been oversubscribed and increased in size.
Due to demand and the unexpected size of orders received to date, the Company has closed its order book. The Offering is subject to the approval of the CSE and the securities issued pursuant to the Offering will be subject to a four-month hold period under securities laws.
XTM, www.xtminc.com, is a Miami and Toronto-based fintech innovator in the neo-banking space, helping businesses and service workers in the hospitality and personal care space disseminate and access earned wages and gratuities. XTM's Today™ Solution, comprised of a free mobile app and a Visa or Mastercard debit card with free banking features, is used by thousands of restaurants, salons and staff across Canada and the United States. XTM is a global card issuer and real-time payment specialist and our technology is used by Restaurants and Salons at no charge to automate and expedite worker payouts and eliminate cash from their ecosystems. XTM's Today solution drives enterprise value with efficiency and a bespoke user experience designed specifically for restaurateurs and personal care services.
For further information please visit xtminc.com or contact:
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (the “forward-looking statements”), within the meaning of applicable Canadian securities legislation. Forward-looking information is not a guarantee of future performance or results, since it involves risks and uncertainties. There is no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in forward-looking statements. Some of the factors on which the forward-looking statements are premised include (but are not limited to) the satisfaction or waiver of the conditions to the completion of the private placement, the receipt of the approval of the Canadian Securities Exchange, and the lack of material changes to general economic, market and business conditions.The CSE has not approved nor disapproved the contents of this press release, and the CSE does not accept responsibility for the adequacy or accuracy of this release.