Xigem Technologies Corporation has announced private placement to issue units at a price of CAD 0.03 per unit on October 13, 2023. Each unit would consist of one common share and one whole warrant. Each warrant entitling the holder of each warrant to purchase a common share of the company at a price of CAD 0.06 for up to 24 months.

The Private Placement Shares would be issued in accordance with the policies of the CSE. Private Placement Shares may be issued to certain insiders of the Company. All Settlement Shares and Private Placement Shares will be subject to a four-month and one-day hold period.

The Company intends to rely upon certain exemptions from the valuation and security holder approval requirements of MI 61-101 and will provide full details in any closing press release.