Xigem Technologies (CSE:XIGM, OTCQB:XIGMF) Corporation has said it intends to complete a non-brokered private placement of up to 30,000,000 units at a price of C$0.10 each, for aggregate gross proceeds to the company of up to C$3 million.
The company said it intends to use the net proceeds from the offering to advance its business plan and for general working capital purposes.
Each unit will consist of one common share of the company and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of the company at a price of $0.20 each until the date that is 18 months following the closing of the offering.
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The common shares and warrants shall be subject to a hold period of four months plus one day from the closing date.
The offering is subject to the satisfaction of certain customary closing conditions, including, but not limited to the receipt of all necessary regulatory and stock exchange approvals.
Finders' fees may be paid in connection with the offering in accordance with the policies of the Canadian Securities Exchange.
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, FOOi, its proprietary peer-to-peer mobile payments app, and Cylix Data, its business intelligence engine, are intended to provide organizations, businesses, and consumers with the tools necessary to thrive in a vast array of remote working, learning and treatment environments, while Xigem looks to aggregate a portfolio of innovative technologies capable of disrupting traditional business models.
Contact the author at jon.hopkins@proactiveinvestors.com