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Xtm Completes Acquisition Of Qrails, Inc

Aug 21, 2023almost 2 years ago

Acquiring Company

XTM

Acquired Company

QRails, Inc.

TorontoDenverFinancial Services

Description

XTM Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech creator of disruptive payment innovations is pleased to announce that it has successfully completed its previously announced acquisition of QRails, Inc. (“QRails”), pursuant to which XTM acquired all of the issued and outstanding shares of QRails from its existing shareholders for an aggregate purchase price of US$3,500,000.00, which was paid through the issuance of 28,343,750 common shares of XTM (the “Transaction Shares”) at a price of US$0.12 (CAD$0.16) per common share (the “Purchase Price”).

Company Information

Company

XTM

Location

Toronto, Ontario, Canada

About

XTM is a U.S., Canada and UK-based Fintech creator of payment innovations, including fully certified and vertically integrated Earned Wage Access through its QRails AnyDay™ solution. Founded in the cloud-banking space, XTM helps employers keep their employees happy with a retention-first, operationally-efficient digital payout solution for earned wages, gratuities, bonuses and other forms of payment. With the increase of on-demand pay as an employee benefit, XTM helps businesses inspire their workers in hospitality, personal care, healthcare, manufacturing and retail industries. Clients include many large national brands including Earls, Maple Leaf Sports & Entertainment, Cactus Club, Marriott Hotels and Live Nation.

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M&A Insights

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Integration timeline
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Tech stack consolidation
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