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XTM Announces Proposed Private Placement

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TORONTO, Feb. 24, 2021 /CNW/ - XTM INC. (CSE: PAID) (the "Corporation" or "XTM") is pleased to announce a non-brokered private placement offering (the "Offering") of up to 6,666,666.67 units at a price of $0.15 per unit, for gross proceeds of up to $1,000,000.00. Each unit consists of one common share in the capital of the Corporation (each a "Common Share") and one warrant exercisable for one additional Common Share at a price of $0.30 for a period of 24 months after closing.

"Subscribers to this placement represent a strategic group of restaurateurs and hospitality industry moguls who are passionate about our business model and will help place The Today™ program strategically throughout the US," said Marilyn Schaffer, CEO, XTM.

The Offering was priced in connection with a confidential price reservation submitted by the Corporation to the Canadian Securities Exchange ("CSE") on February 8, 2021. 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 anticipates that the net proceeds of the Offering will be used for general working capital purposes.

Closing of the Offering is anticipated to occur on or about March 1, 2021 or such other date or dates that the Corporation may determine.

About XTM Inc. – www.xtminc.com

XTM is a Miami and Toronto-based fintech innovator in the neo-banking space helping business and workers alike expedite earnings payout and eliminate banking fees. We are a global card issuer and real-time payment specialist providing our technology to businesses to automate and expedite worker payouts that can also eliminate cash. XTM integrates businesses to a payment ecosystem that is coupled with a free mobile app and a Visa or Mastercard debit card with free banking features. XTM drives enterprise value and creates a positive user experience.

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 in any way passed upon the merits of the Offering and has neither approved nor disapproved the contents of this news release.



View original content: http://www.newswire.ca/en/releases/archive/February2021/24/c8128.html