XTM, Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID /
FSE:7XT), a Miami and Toronto, Denver and London-based Fintech
creator of payment innovations including fully certified Earned
Wage Access (“EWA”) through its QRails AnyDay™ product,
further to its news release of January 19, 2024 that the Company
entered into a USD$3,000,000 licensing agreement on January 19,
2024 (the “Licensing Agreement”) to provide EWA processing
for a U.S. entity (the “Customer”), is providing further
context to its Licensing Agreement at the request of CIRO. The
Licensing Agreement is for a 5 -year term whereby the Customer will
receive a license over a 5 year period (the “License”) and
will be billed XTM’s net computational cost to process and a
monthly margin per month, per card up to 100,000 cards at which
time the terms will be renegotiated.
XTM has a combination of cloud and on-premise based, API-driven,
prepaid and debit issuer processor services, together with QRails
which offers a full program manager capable of providing any
combination of services required as part of a client program (the
“Processing Platform”). As part of this License, the
Customer may use the XTM Processing Platform for processing and/or
may operate the Processing Platform independently.
The Customer shall be responsible for all program management
services and banking relationships.
From time to time, the Customer may request XTM provide certain
consulting and professional services related to the Processing
Platform, including platform management support services, client
onboarding and implementation support services, and tier 1 and 2
support for the Customer clients. The scope and value of such
services shall be agreed upon by the parties at the time of the
Customer’s request.
XTM shall continue to develop, update, apply security, currency,
infrastructure and application upgrades, patch and/or make
improvements (collectively, the “Upgrades”) to the
Processing Platform during its normal course of operations and
shall make such Upgrades available as soon as practicable for
acceptance and use to the Customer. If such upgraded services have
a third party cost, the Customer will have the option, by way of
the API, to integrate such upgraded services and pay such third
party costs a profit margin.
About XTM
XTM is a Miami and Toronto, Denver and London-based Fintech
creator of payment innovations including fully certified and
vertically integrated Earned Wage Access through its QRails AnyDay™
product. Founded in the cloud-banking space to further support
businesses to inspire their workforce in the hospitality, personal
care and services staffing industries, XTM provides on-demand pay
for many large brands including Earls, Maple Leaf Sports &
Entertainment, Cactus Club, Marriott Hotels and Live Nation. XTM
continues to innovate with further digital featurization to support
businesses to inspire workers to want to work more with shift
scheduling and call-outs, staff management, expense management,
in-app health and financial wellness; and gamified loyalty
programs. XTM’s Today Financial™ is in use through POS and Payroll
integrations and directly through web-portals by thousands of
businesses and their workers across Canada and the United
States.
About QRails / AnyDay
QRails Inc. (“QRails”) is a fully owned subsidiary of
XTM. A cloud-based, API-driven issuer-processor QRails enables
payroll providers, financial institutions and other global fintech
companies to keep up with the on-demand economy by delivering
innovative digital payment solutions to their employees. QRails
helps companies modernize and leverage payroll as a differentiator
in attracting and retaining talent all at low to no cost for the
employee and employer. QRails’ flagship solution, AnyDay™, is the
first provider to own their full tech stack that powers their
Earned Wage Access solution.
Statements contained in this release that are not historical
facts are forward-looking statements that involve various risks and
uncertainty affecting the business of the Company. Such statements
can generally, but not always, be identified by words such as
“expects”, “plans”, “anticipates”, “intends”, “estimates”,
“forecasts”, “schedules”, “prepares”, “potential” and similar
expressions, or that events or conditions “will”, “would”, “may”,
“could” or “should” occur. All statements regarding the Licensing
Agreement, the cost and processing of the Licensing Agreement and
the License, the Processing Platform and use by the Customer, any
consulting and professional services to be provided, if at all, the
Upgrades, if any such Upgrades are made to the Processing Platform,
and statements that describe the Company’s plans relating to
operations and potential strategic opportunities are
forward-looking statements under applicable securities laws. These
statements address future events and conditions and are reliant on
assumptions made by the Company’s management, and so involve
inherent risks and uncertainties, as disclosed in the Company’s
periodic filings with Canadian securities regulators. As a result
of these risks and uncertainties, and the assumptions underlying
the forward-looking information, actual results could materially
differ from those currently projected, and there is no
representation by the Company that the actual results realized in
the future will be the same in whole or in part as those presented
herein.
The risk factors and uncertainties that could cause actual
results to differ materially from the anticipated results or
expectations expressed in this press release, include, without
limitation: the ability of XTM to renegotiate favourable terms of
the Licensing Agreement, or at all, the maintenance and Upgrades of
the Processing Platform, increased industry competition, the
ability to satisfy the conditions to Closing of the Offering,
including obtaining approval of the CSE on a timely basis, or at
all; that the Offering may not be completed on the terms and
timeline indicated, or at all; that the Company’s use of proceeds
of the Offering may differ from those indicated; additional
financing requirements; adverse market conditions; and other risk
factors described from time to time in the Company’s securities
filings.
The Company disclaims any intent or obligation to update
forward-looking statements or information except as required by
law. Readers are referred to the additional information regarding
the Company’s business contained in the Company’s reports filed
with the securities regulatory authorities in Canada. Although the
Company has attempted to identify important factors that could
cause actual actions, events, or results to differ materially from
those described in forward-looking statements, there may be other
factors that could cause actions, events or results not to be as
anticipated, estimated or intended. For more information on the
Company and the risks and challenges of its business, investors
should review the Company’s filings that are available at
www.sedarplus.ca.
The Company provides no assurance that forward-looking
statements and information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements or information. Accordingly, readers
should not place undue reliance on forward-looking statements or
information. The Company does not undertake to update any
forward-looking statements, other than as required by law.
For further information, please visit www.xtminc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240124554982/en/
Marilyn Schaffer 416.260.1641 finance@xtminc.com
XTM (TG:7XT)
過去 株価チャート
から 4 2024 まで 5 2024
XTM (TG:7XT)
過去 株価チャート
から 5 2023 まで 5 2024