ALEXANDRIA, VIRGINIA — (Marketwired) — 04/28/15 — IGEN Networks Corp (the “Company” or “IGEN”) (OTCQB: IGEN)(CSE: IGN) is pleased to announce the closing of two non-brokered private placements of a total of 596,839 shares for gross proceeds of C$124,844. The proceeds of the private placements will be used by the Company for general working capital purposes.
One private placement was for 133,333 units at a subscription price of C$0.186 per unit for total proceeds of C$24,844. Each unit consists of one common share and a 1/2 share purchase warrant, each whole warrant exercisable into one common share at C$0.28 for a period of two years from the closing date.
A second private placement was for 463,506 common shares at a subscription price of C$0.216 per share for total proceeds of C$100,000.
The common shares issued pursuant to the private placement are restricted from trading for a four month hold period in accordance with applicable securities laws and exchange policies.
About IGEN Networks Corporation:
IGEN Networks Corporation invests in and manages companies that deliver cloud-based services through Machine-to-Machine (M2M) device technologies for the protection and management of mobile assets and commercial fleets. The Company offers a range of self-provisioning applications which are used to manage and recover stolen assets, provide access to roadside assistance programs, and improve productivity of commercial fleets.
IGEN is a fully reporting company in both Canada and the United States. It is publicly traded on the OTCQB under the symbol IGEN, and listed on the CSE under the symbol IGN. For more information, please visit .
Forward-Looking Statements
This news release may contain forward-looking statements or forward looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities law. The terms and phrases “goal”, “commitment”, “guidance”, “expects”, “would”, “will”, “continuing”, “drive”, “believes”, “indicate”, “look forward”, “grow”, “outlook”, “forecasts”, “intend”, and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by IGEN in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that IGEN believes are appropriate in the circumstances, including but not limited to statements regarding investment liquidity, financing options and long term goals of the Company, general economic conditions, IGEN–s expectations regarding its business, customer base, strategy and prospects, and IGEN–s confidence in the cash flow generation of its business. Many factors could cause IGEN–s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: risks related to competition; IGEN–s reliance on key personnel; IGEN–s ability to maintain and enhance its brand; and difficulties in forecasting IGEN–s financial results, particularly over longer periods given the rapid technological changes, competition and short product life cycles that characterize the mobile application industry. These risk factors and others relating to IGEN that may cause actual results to differ are set forth in the under the heading “Risk Factors” in IGEN–s periodic filings with the British Columbia Securities Commission and the U.S. Securities and Exchange Commission (copies of which filings may be obtained at or ). These factors should be considered carefully, and readers should not place undue reliance on IGEN–s forward-looking statements. IGEN has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contacts:
Investor Inquiries:
IGEN Networks Corporation
Richard Freeman
1.888.244.3650
Media Inquiries:
Nimbo LLC
Josie Sostre
855.912.5378
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