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Delay in Filing Annual Financial Statements

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TORONTO, May 3, 2021 /CNW/ - XTM, Inc. ("XTM" or the "Company") (CSE: PAID) (QB: XTMIF), (FSE: 7XT) announces that it did not file its annual audited financial statements, management's discussion and analysis and related certifications for the fiscal year ending December 31, 2020 (collectively, the "Financial Statements") on time as required by securities law due to unforeseen administrative and audit delays including delays caused by the COVID-19 mandatory closure of all non-essential businesses imposed by the Government of Ontario effective April 4, 2021.

The Company expects to file the Financial Statements on May 4, 2021, after the close of trading on the Canadian Securities Exchange.

About XTM – www.xtminc.com

XTM, www.xtminc.com is a Miami and Toronto-based fintech innovator in the neo-banking space helping business and workers alike expedite earnings payout and eliminate banking fees. We are a global card issuer and real-time payment specialist providing our technology to businesses to automate and expedite worker payouts that can also eliminate cash. XTM integrates businesses to a payment ecosystem that is coupled with a free mobile app and a Visa or Mastercard debit card with free banking features. XTM drives enterprise value and creates a positive user experience.

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of the release.

This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations, and objectives for future operations that are subject to several assumptions, risks, and uncertainties, many of which are beyond the control of XTM. This press release contains forward-looking statements pertaining to, among other things, the ability of XTM to file the Financial Statements as expected. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by XTM and described in the forward-looking information contained in this press release. Although XTM believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

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View original content:http://www.prnewswire.com/news-releases/delay-in-filing-annual-financial-statements-301282681.html

SOURCE XTM Inc.

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Cision

View original content: http://www.newswire.ca/en/releases/archive/May2021/03/c5566.html