Xigem Technologies closes acquisition of peer-to-peer payment app FOOi

Under the terms of the acquisition agreement, Xigem has acquired substantially all of the assets of FOOi for consideration of USD 500,000 to be satisfied by the issuance of 1,666,667 common shares in the capital of Xigem at a deemed price equal to USD 0.30 per share.

FOOi is a mobile app that facilitates digital payments through peer-to-peer and peer-to-business financial transactions. Users can `share money in the moment` by opening the app and tapping on the person or organisation to whom they would like to transfer funds. FOOi allowing users to complete transactions within minutes of installation by quickly and securely connecting credit cards and debit cards to their FOOi accounts. More information is available at www.fooi.ca.