Xigem Technologies Announces Closing of Funding Agreement to Support its EchoDigital Business Unit
Summary
Pursuant to a previously disclosed exclusive ten year royalty and service based management agreement, Carnance has been and continues to be obligated to use the Companys EchoDigital asset in all of its sales efforts.The provisions of the TLA include but are not limited to the following: None The Lender agreeing to lend funds to the Company, which shall in turn lend such funds to Carnance for the Purpose (as more fully described in the TLA Facility). None The Lender receiving a senior ranking security over all of the assets of the Company.EchoDigital is the Companys proprietary Saas-based, AI employing platform which assists in seamlessly capturing and converting used car consumer leads from traditional sources. EchoDigital can then assess and qualify the leads in part to determine their aptitude, and subsequently match them with a used car dealers most suitable customer sales representative. iAgent, the Companys patented technology and EchoDigital, its SaaS automotive shopping platform are intended to provide organizations, businesses, and consumers with the tools necessary to thrive in a vast array of digital working, learning, shopping and treatment environments while the Company continually looks to aggregate a portfolio of innovative technologies capable of disrupting traditional business models.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.This news release contains "forward-looking statements" within the meaning of applicable securities laws. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.On behalf of the Company:Brian Kalish, Chief Executive OfficerTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/250231