Source: Xigem Technologies
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  • Xigem Technologies (XIGM) has closed a C$650,000 private placement and issued stock options and warrants
  • The company sold 4,135,048 units at $0.1575 per unit for gross proceeds of $651,270.07
  • Proceeds will be used to advance the company’s business plan and for general working capital purposes
  • Xigem operates as a SaaS technology platform for the emerging remote economy
  • Xigem Technologies (XIGM) is down by 2.86 per cent and is currently trading at $0.34 per share

Xigem Technologies (XIGM) has closed a C$650,000 private placement and issued stock options and warrants.

The company sold 4,135,048 units at $0.1575 per unit for gross proceeds of $651,270.07.

Each unit consists of one Xigem common share and one common share purchase warrant.

Each warrant entitles the holder to acquire one additional Xigem common share for $0.23 for a period of 36 months.

Proceeds will be used to advance the company’s business plan and for general working capital purposes.

Xigem also issued 100,000 incentive stock options to a new member of its Advisory Board. Each option entitles the holder to purchase one Xigem common share for $0.35 for a period of five years and will vest immediately.

In addition, the company issued 200,000 warrants to other members of its Advisory Board. Each warrant entitles the holder to purchase one Xigem common share for $0.35 for a period of five years. 

Xigem operates as a SaaS technology platform for the emerging remote economy.

Xigem Technologies (XIGM) is down by 2.86 per cent and is currently trading at $0.34 per share as of 11:16 am ET.

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