XTM Inc. — Capital/Financing Update 2020

Jan 21, 2020

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Ontario Commission des 22nd Floor 22e étage Securities valeurs mobilières 20 Queen Street West 20, rue Queen ouest Commission de l’Ontario Toronto ON M5H 3S8 Toronto ON M5H 3S8

RECEIPT

XTM Inc.

This is the receipt of the Ontario Securities Commission for the Amended and Restated Preliminary Long Form Prospectus dated January 20, 2020 (the amended preliminary prospectus) amending and restating the Preliminary Long Form Prospectus of the above Issuer dated October 22, 2019 .

The amended preliminary prospectus has been filed under Multilateral Instrument 11-102 Passport System in British Columbia and Alberta . A receipt for the amended preliminary prospectus is deemed to be issued by the regulator in each of those jurisdictions, if the conditions of the Instrument have been satisfied.

January 21, 2020

Sonny Randhawa

Sonny Randhawa Director, Corporate Finance Branch SEDAR Project # 2977455