SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Jan 20, 2022

2. SEC Identification Number

A200117708

3. BIR Tax Identification No.

219-934-330

4. Exact name of issuer as specified in its charter

Xurpas Inc.

5. Province, country or other jurisdiction of incorporation

Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

Unit 804 Antel 2000 Corporate Center 121 Valero St., Salcedo Village, Makati City Postal Code 1227

8. Issuer's telephone number, including area code

(632)8889-6467

9. Former name or former address, if changed since last report

Not applicable

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares	1,872,796,877

11. Indicate the item numbers reported herein

Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Xurpas Inc.X

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Xurpas raises Php 100 million in fresh capital from founding shareholder.
Background/Description of the Disclosure
On January 20, 2022, Xurpas Inc. approved the issuance of common shares to Nix Nolledo, one of the Company’s three founders. The fresh capital infusion amounting to Php 100 million will primarily be used for the expansion of Xurpas' core enterprise business, specifically the IT staff augmentation business. The fresh funds will also be used for employee benefits enhancement, research and development, the upgrade and replacement of equipment, and general corporate purposes. The Company disclosed that Mr. Nolledo’s subscription price will be based on Xurpas’ 30 day weighted average share price wherein the twenty five (25) days prior to signing date and the five (5) days after signing date will determine the calculation. The Subscription Price is subject to 5% premium, and shall also have a floor price of Php0.55 per share, said the Company. “The past two years have been quite challenging, all the more so due to the ongoing pandemic. But there have also been opportunities for growth, as many companies try to accelerate their digital transformation and other IT initiatives,” said Mar Corpuz, Xurpas President. “We have made meaningful progress in rebuilding our revenue base by focusing on staff augmentation. Nix (Nolledo’s) continued support through this infusion will go a long way towards allowing us to further grow the business, while strengthening our balance sheet.” continued Corpuz. The Subscription Agreement was signed on January 20, 2022. Mr. Nolledo will pay the total subscription price of Php100 million within 30 days. Xurpas shares closed at a price of Php 0.40 on January 19, 2022.
Other Relevant Information
Not Applicable