CALGARY,
June 3, 2015 /CNW/ - Ivrnet Inc.
(TSXV: IVI) ("Ivrnet" or the "Corporation") announces the
completion of the Corporation's Non-brokered Private Placement
declared on April 15th,
2015.
Permission to issue an additional 3,814,000 Units
at $0.05 per unit, for supplementary
net proceeds of $190,700, was granted
by the TSXV with their Final Acceptance issued June 3, 2015. This brings the total Unit issuance
and aggregate proceeds of the Offering to 13,814,000 and
$690,700 respectively. Each unit will
be composed of one common share of the Corporation and one full
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.
Insider Placees composed 26.10% of the Offering.
No finder's fees, broker's fees or commissions were 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.
About Ivrnet
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.
Forward-looking Information
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.