CALGARY, June 5, 2015 /CNW/ - David L. Snell & Ivrnet Inc. (TSXV: IVI) ("Ivrnet" or the "Corporation") – In accordance with regulatory requirements, on behalf of David L. Snell, the Corporation announces that David L. Snell has recently acquired 2,600,000 units of the Corporation with each Unit consisting of one Common Share of the Corporation and one Common Share purchase Warrant. Each Warrant entitles the holder to purchase one additional Common Share (i) at a price of $0.07, if the Warrant is exercised in the first year following its issuance, (ii) at a price of $0.09, if the Warrant is exercised in the second year following its issuance, or (iii) at a price of $0.12, if the Warrant is exercised in the third year following its issuance. Shares, warrants and any shares issued upon exercise of the warrants are subject to a 4 month hold period from the date of closing or date of exercise of the warrants.
David L. Snell currently holds 12,800,491 common shares and 5,600,000 warrants of the Corporation, which represents 18.20% of the Corporation's currently outstanding common shares and 24.24% of the Corporation's common shares on a partially diluted basis assuming full exercise of the warrants.
The securities acquired by David L. Snell referred to above are held for investment purposes. In the future, he may increase or decrease his ownership of securities of the Corporation from time to time.
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.
A copy of the early warning report filed pursuant to Regulation 62-103 may be obtained on www.sedar.com.
This press release may/does contain "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 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 David L. Snell & Ivrnet have 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 - Chief Operating Office, Ivrnet Inc., Direct: (403) 538-9722, Cellular: (403) 870-2434, E-mail: email@example.com; www.ivrnet.com