CALGARY, April 8, 2014 /CNW/ - Ivrnet Inc. (TSXV: IVI) ("Ivrnet" or the "Corporation") announces the non-brokered private placement of up to 8,000,000 common shares of the Corporation (the "Shares") at a price of $0.05 per Share for aggregate proceeds of up to $400,000 (the "Offering"). Each Share is subject to a 4 month hold period from date of closing of the Offering. The anticipated date of closing is on or before May 16, 2014. Insider Placees are expected to compose greater than 25% of the Offering. No finder's fees, broker's fees or commissions are anticipated to be paid in connection with the Offering.
Proceeds of the Offering will be utilized to expand the Corporation's product development and sales plans as well as general working capital.
"Fiscal 2014 continues to be an opportunistic year for our organization. As a result of our last equity offering, we are proud to advise that we have achieved our goal of engineering a redesigned core software platform. As announced recently, stage one of our Ivrnet Central platform has now been released. With extensive feedback and assistance from our end-users, we have developed a new operational platform that is even more functional and user-friendly than our previous generation. In essence, we have and will continue to "give people back their time" by integrating our hosted software platform in their respective organizations. Our improved platform effects even greater time savings and cost reductions in our clients' everyday business operations. From a technological standpoint, this platform is much more intuitive and scalable than the previous generation. As a result of same, we expect to receive two tangible business benefits. The first being a decrease in long-term support and operation costs related to this core software platform and second, being an increase in long-term revenues related to the respective products the platform will support. As planned, our first newly revised Software as a Service, ("SaaS"), product to be offered on this platform is our already popular Online Registration. As well, we are extremely excited about our work towards our next scheduled release, which will include new and improved Ivrnet Central modules, specific to our ITSportsNet and Community Central clients" says Chris L. Topolniski, Ivrnet's Vice President of Finance & Administration.
He continues, "We sincerely wish to thank our Board of Directors, stakeholders, all of our valued clients and most importantly, our Ivrnet Team, for their unwavering support and commitment as we moved our company forward this past fiscal year."
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. Further 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, Cellular: (403) 870-2434, E-mail: firstname.lastname@example.org