Xigem Technologies Corporation announced a private placement of 5,476,190 units at a price of CAD 0.042 per unit for gross proceeds of CAD 229,999.98 on February 26, 2024. Each unit would consist of one common share and one whole warrant entitling the holder of each warrant to purchase a common share at a price of CAD 0.065 for up to 24 months. The private placement shares would, if issued, be done so in accordance with the policies of the CSE.

The private placement shares may be issued to certain insiders of the company. All the shares to be issued will be subject to a four-month and one-day hold period.