XTM Inc. announce that on September 29 it closed a non-brokered private placement offering (the "Offering") of 21,398,256 units of the company ("Units") at a price of $0.40 per Unit, for gross proceeds of $8,559,302.40. 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 $0.65 for a period of 24 months after closing ("Warrants"). In the event that the volume-weighted average price (VWAP) of the Common Shares on the Canadian Securities Exchange or a recognized Canadian stock exchange is equal to or greater than $1.00 over a ten consecutive trading day period, XTM may at its option accelerate the expiry of the Warrants by issuing a press release (a "Warrant Acceleration Press Release") and in such case the expiry of the Warrants shall be deemed to be on the 30th day following the issuance of the Warrant Acceleration Press Release. T he Securities issued are 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 and future strategic acquisitions. An aggregate cash finder's fee of $684,744 (representing 8% of the gross proceeds) and 1,711,860 finder warrants ("Finder Warrants"), with the same exercise price and other terms as the Warrants (representing 8% of the number of Units issued), was paid to finders in respect of the Offering.