Technology

Xigem Applied sciences pronounces appointment of Anthony Cozzi as its new leader generation officer

Xigem Technologies (CSE:XIGM, OTCQB:XIGMF) Corporation has announced the appointment of Anthony Cozzi as its new chief technology officer.

The company noted that Cozzi is a technology leader with over 20 years of experience building and managing engineering and product teams in the digital economy. He has an extensive background in high-growth start-ups and scaling technology companies, working across a range of industries including Hospitality, EdTech and Telecom.

In a statement, Brian Kalish, CEO and co-founder of Xigem commented: “We are very pleased to add a veteran of the digital world like Anthony to our team. There are a number of exciting prospects in our pipeline, and we expect Anthony to play an important role in assessing and integrating new technologies while monetizing them for growth.”

READ: Xigem Technologies closes on acquisition of Cylix Data

Cozzi began his career at Globalive Communications and became an integral part of the management team there as the company grew from fewer than 10 people to over 200. An engineer by trade, he also has extensive business management experience, having led the creation, strategy and monetization of TouchBistro’s partnerships group and its UK operations as it grew from a Series B to Series E-sized company. He obtained his degree in Computer Engineering from the University of Toronto.

As Xigem’s chief technology officer, the company said Cozzi will lead the ongoing development, commercialization and integration of its existing technologies and the various prospective additions to its portfolio.

“I am excited to join the Xigem team and help scale a promising technology portfolio,” Cozzi added. “The remote economy has changed so many aspects of our professional and personal lives, and there are significant opportunities for those who develop innovative approaches to servicing the rapidly evolving market needs.”

Cylix acquisition issues

In a separate statement earlier confirming the filing of its financial results for the three months ended March 31, 2022, Xigem revealed that the company’s management is of the view that the vendor of Cylix Data Group has breached certain key provisions of their asset purchase agreement.

Currently, the breach makes it highly improbable for Xigem to recognize sole control of the Cylix asset and the books and records associated with it, resulting in the company’s inability to formally control the Cylix asset, Xigem said.

In January Xigem announced that it had completed the acquisition of the assets of 2747524 Ontario Inc, operating as Cylix Data Group for C$32.35 million.

“As a result, for accounting purposes, Xigem has had to record a loss on the acquisition of the assets of Cylix of $9.1 million in the quarter. The company is currently pursuing resolution with the Vendor of the Cylix asset,” Xigem said in the statement.

Cylix Data is a business-to-business intelligence technology company that has software that boosts efficiency and productivity for executives by giving them information at their fingertips to help key decision-making and risk management. The proprietary database of over 74 million data points has been pulled from both third-party vendors and internally originated sources.

Established in Toronto, Ontario, Xigem is positioned 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.

Contact the author at jon.hopkins@proactiveinvestors.com

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