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XTM Secures up to USD $90M Debt Facility to Fund Earned Wage Access Growth
[September 28, 2023]

XTM Secures up to USD $90M Debt Facility to Fund Earned Wage Access Growth

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 approval of a financing, totaling up to USD $90,000,000 with access to up to $30,000,000 for the initial funding and options to request $20,000,000 and thereafter increments of $25,000,000 as the requirements for Earned Wage Access. Concurrent and before the initial draw of the debt facility, the Company will close an additional $5M USD of convertible debentures as is a condition of the loan funding.

With the recent closing of the Qrails acquisition, the Company has been focused on boarding the backlog of signed deals onto the Qrails AnyDay™ EWA platform. To date, the Company has been using internal dollars to fund the EWA advances. Now with several Fortune 100 clients in or nearing implementation phase, a large debt facility was required to support the imminent growth needs. As the AnyDay™ EWA solution continues to see penetration rates of existing clients increase month over month, it is difficult to determine how many users the full USD $90M debt facility will support however, the Company anticipates it should take us well into 2024.

"We are bullish about our opportunity, with more than 200 million people in the US likely to access their earned wages mid-pay cycle due to personal financial short falls, combined with our access to this market through signed contracts," said Marilyn Schaffer, CEO, XTM. "Pay day loans are no longer the go-to life-emergency option now, with our fully SAP certified AnyDay™ solution already in action and poised to scale to enable millions of workers access to their earnings in seconds."

About XTM

XTM is a Miami and Toronto-based fintech innovator founded in the cloud-banking space and further helping businesses inspire their workforce in the hospitality, personal care and services staffing industries. Established as a leader in on-demand pay with 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. For more information, please visit

About QRails

QRails, a fully owned subsidiary of XTM, is a cloud-based, API-driven issuer-processor enabling payroll providers, financial institutions and other global intech 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, AnyDayTM, is the first provider to own their full tech stack that powers their Earned Wage Access solution.

SAP-certified, QRails also has earned several industry certifications under PCI DSS, and SOC. For more information, please visit

This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (the "forward-looking statements"), within the meaning of applicable Canadian securities legislation, including statements relating to the integration of QRails and its employees, technology and efficiencies into the business of the Company, the Company gaining operational momentum and commercial efficiencies as a result of the Transaction, and the ability of the QRails to collaborate with the Company and for the Company to continue servicing its current new clients and QRails clients, the Company expanding its services and client base, the Company benefiting from efficiencies from the Transaction, the Company securities based incentive plans attracting and retaining employees and management, and the speed and scale of the Company expanding into different markets. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect," "plan," "anticipate," "project," "target," "potential," "schedule," "forecast," "budget," "estimate," "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will," "would," "may," "could," "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur.

While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, the Company's ability to raise capital; the Company's ability to integrate QRails and its technology into the business of the Company, the maintenance of existing operations of QRails in its current markets and capacity to scale into new markets, market acceptance and demand of the QRails technology and related products, the success of securities based incentive plans and retaining and attracting employees, the effects of general economic conditions, changing foreign exchange rates and actions by government and regulatory authorities, the effects of COVID-19, both positive and negative, the future of the market for XTM programs and misjudgments in the course of preparing forward-looking statements. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with the impact of general business and economic conditions, the ability of the Company to successfully integrate QRails into its existing operations and gaining efficiencies, if any, from collaboration; unexpected changes in market and technological trends and governmental policies and regulations affecting the Company, XTM's ability to continue onboarding clients, risks related to global pandemics, influence of macroeconomic developments, business opportunities that become available to, or are pursued by XTM; reduced access to debt and equity capital, litigation, increasing interest rates, the volatility of the stock market, competition, future sales or issuances of debt or equity securities, use of proceeds, dividend policy and future payment of dividends, liquidity, and the market for XTM's securities. Although we have 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 cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws. For the reasons set forth above, undue reliance should not be placed on forward-looking statement.

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