CALGARY, Nov. 14, 2013 /CNW/ - Ivrnet Inc. (TSXV: IVI) ("Ivrnet" or the
"Corporation") announces the completion of the Corporation's
Non-brokered Private Placement declared on August 19th, 2013.
Permission to issue an additional 380,000 shares at $0.05 per share, for
supplementary net proceeds of $19,000, was granted by the TSXV with
their Final Acceptance issued November 13, 2013. This brings the total
Share issuance and aggregate proceeds of the Offering to 6,380,000 and
Proceeds of the Offering will be utilized for the complete development
of the next generation of the Corporation's Membership Management &
Payment Processing Software Platform.
"Our core software platform development is critical in enabling us to
deliver our new and improved product suite faster, with less cost and
to broader markets with deeper penetration rates," says Chris
Topolniski, Ivrnet's Vice President of Finance & Administration. "Our
Board of Directors, Senior Management Team and all Ivrnet employees
have worked extremely hard over the past 18 months to yield the
improved 2013 financial results that we are now enjoying as a company.
We are delighted to see the market's positive response to our
Each Share of the Offering is subject to a 4 month hold period. Insider
Placees composed 36% of the Offering. No finder's fees, broker's fees
or commissions were paid in connection with the Offering.
Ivrnet is a software and communications company that develops, hosts,
sells and supports value added business process improvement software
applications, delivered through the traditional phone network and the
Internet. These applications facilitate automated interaction through
personalized communication between people; mass communication for
disseminating information to thousands of people concurrently and
personalized communication between people and automated systems.
Ivrnet's applications are accessible through nearly any form of
communication technology, at any time, from anywhere in North America
via voice, phone, fax, email, texting and the Internet.
This press release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation. Forward-looking
information is often, but not always, identified by the use of words
such as "anticipate", "believe", "plan", "intend", "objective",
"continuous", "ongoing", "estimate", "expect", "may", "will",
"project", "should" or similar words suggesting future outcomes. In
particular, this press release contains forward-looking information
relating to the closing of the Private Placement. This forward-looking
information is subject to known and unknown risks, uncertainties and
other factors that may cause the closing of the Private Placement not
to occur or the closing date to be materially different from that
expressed or implied herein, including but not limited to: risks
related to capital markets, general economic conditions, legislative
and regulatory developments, and the regulatory approval process for
the Private Placement, as well as those factors discussed in Ivrnet's
documents filed on SEDAR (www.sedar.com).
Although Ivrnet has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated. Accordingly, readers should not place undue reliance on
forward-looking statements. Ivrnet does not undertake to update any
forward-looking statements that are contained herein, except in
accordance with applicable securities laws. Additional information on
Ivrnet is available at www.sedar.com.
Neither the TSX Venture Exchange nor its regulation services provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: IVRnet Inc.
For further information:
Chris L. Topolniski - Vice President, Finance & Administration, Ivrnet
Direct: (403) 538-9722