Mr. Brian Kalish reports

XIGEM TECHNOLOGIES ENCOURAGED BY GROWTH IN USED CAR MARKET: DRIVEN BY TECHNOLOGY

Xigem Technologies Corp. has applauded the enduring strength of the global market for used cars and the role played by digital technologies.

Given the company's previously announced acquisition of EchoDigital, Xigem's artificial-intelligence-powered automotive shopping platform, Xigem may be ideally positioned to benefit from the ever dynamic global used car market.

According to The Brainy Insights, while the global market for used cars was valued at approximately $1.9-trillion (U.S.) in 2022, it is expected to reach approximately $3.3-trillion (U.S.) by 2032. Furthermore, estimates published by Gitnux show that by 2026, over 10 per cent of cars sold in the United States and Europe may be through digital platforms that use AI; that nearly 20 per cent of used car transactions may be completely digital; that AI use in the global automotive industry is expected to develop at a compound annual growth rate of approximately 24.5 per cent between 2020 and 2026; and that up to approximately 20 per cent of used car transactions may be completely digital by 2035.

EchoDigital is a software-as-a-service-based platform using proprietary AI to seamlessly generate leads from traditional sources. The EchoDigital AI assesses and qualifies a lead, and determines its psychological aptitude then matches it with the most suitable and qualified customer service/sales representative to complete the sale. Prior to its acquisition by the company, and as previously announced, subsequently, EchoDigital had delivered proven results in the automotive sales sector. EchoDigital may be readily scalable, customizable and applicable to almost any CSR-dependent sales system in a range of industry verticals, with possible application in the company's other technologies.

In keeping with its continuous disclosure requirements, Xigem expects to release its first quarter financial results by or on May 30, 2024.

About Xigem Technologies Corp.

Established in Toronto, Ont., Xigem is positioning itself to become a leading technology provider for the emerging near trillion-dollar remote economy, with software capable of improving the capacity, productivity and overall remote operations for businesses, consumers and other organizations. iAgent, the company's patented technology, FOOi, its proprietary peer-to-peer mobile payment app, and EchoDigital, a 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 as the company looks to aggregate a portfolio of innovative technologies capable of disrupting traditional business models.

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