LAKE ELSINORE, Calif., April 14, 2022 /PRNewswire/ — IGEN Networks Company (OTC: IGEN, CSE: IGN), is pleased to announce agreements for $5,000,000 in Fairness-Line Funding with Jefferson Avenue Cash LLC (JSC), a New Jersey limited legal responsibility firm. Around the system of the up coming three yrs, immediately after an efficient registration of frequent shares, Jefferson Road Cash LLC, will commit up to $5,000,000 to fund IGEN’s strategic initiatives and merchandise brand name development for both of those the consumer and industrial markets. The Equity-Line was structured with favorable phrases for IGEN and in shut alignment with IGEN shareholder aims that permit JSC to hold up to 4.99{194d821e0dc8d10be69d2d4a52551aeafc2dee4011c6c9faa8f16ae7103581f6} of IGEN excellent shares through the term of the agreements. The drawing and offering of shares will be at the sole discretion of IGEN’s Officers and Board of Directors.
CEO Neil G. Chan mentioned, “With this new Equity-Line we are effectively capitalized to fund and help all five item manufacturers presented to customer and business marketplaces:
FamilyShield – initial immediate-to-consumer brand to protect households and their younger drivers – accessible for purchase on Amazon.com
Nimbo Tracking – marketed to franchise and pre-owned automotive dealerships throughout 50 States for Lot Administration of automobile inventory along with the offering of car theft security and FamilyShield solutions to automotive individuals and their family members
CUTrak – a product brand name created specially to mitigate lending danger for economical establishments and credit history unions alongside with the supplemental providing of FamilyShield companies to members and their people
Medallion GPS – a fleet management system created for relieve-of-use at drastically lessen expenses for management of Mild-Responsibility industrial and passenger autos
Medallion GPS Pro – the upcoming era fleet management system built for Medium-to-Major Obligation professional motor vehicles that demand from customers genuine-time 5G movie performance and fleet administration abilities
In addition to supporting product brand progress options, the Fairness-Line will offer the required methods for enforcement of IGEN Mental Homes, the ongoing growth of Synthetic Intelligence (AI) based algorithms for increasing driver safety and fleet productivity, and eventually by way of the inherent construction of the Fairness-Line, IGEN will carry on to improve its stockholder equity in preparing for up-listing prospects for both of those the Canadian and US securities marketplaces”.
About IGEN Networks Corporation
IGEN Networks Company generates software products and services for the shopper automotive and commercial asset administration industries enabling their buyers to greater regulate their belongings and guard their drivers. IGEN is a absolutely reporting organization in both equally Canada and the United States. It is publicly traded on the OTC Marketplaces below the symbol IGEN, and shown on the CSE below the symbol IGN. For a lot more information and facts, make sure you stop by: www.igennetworks.internet
Ahead-Searching Statements
This news launch may well have forward-wanting statements or ahead-on the lookout information and facts in the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities regulation. The terms and phrases “aim”, “motivation”, “assistance”, “expects”, “would”, “will”, “continuing”, “generate”, “believes”, “suggest”, “glance forward”, “grow”, “outlook”, “forecasts”, “intend”, and equivalent conditions and phrases are meant to establish these forward-hunting statements. Ahead-on the lookout statements are based mostly on estimates and assumptions designed by IGEN in light-weight of its practical experience and its notion of historical traits, existing situations and anticipated long term developments, as well as other aspects that IGEN believes are proper in the situation, including but not constrained to statements with regards to investment liquidity, funding possibilities and very long term goals of the Enterprise, general financial situations, IGEN’s anticipations with regards to its business enterprise, purchaser foundation, method and potential clients, and IGEN’s self-assurance in the money circulation technology of its company. Numerous things could cause IGEN’s genuine effects, effectiveness or achievements to differ materially from individuals expressed or implied by the forward-seeking statements, which include, with no limitation: dangers relevant to level of competition IGEN’s reliance on critical personnel IGEN’s skill to sustain and improve its model and difficulties in forecasting IGEN’s financial results, specifically above more time durations supplied the immediate technological adjustments, competitors and short item lifetime cycles that characterize the cellular application market. These danger elements and other people relating to IGEN that may trigger genuine outcomes to vary are established forth in the less than the heading “Hazard Variables” in IGEN’s periodic filings with the British Columbia Securities Commission and the U.S. Securities and Exchange Fee (copies of which filings may well be obtained at www.sedar.com or www.sec.gov. These variables should really be deemed meticulously, and visitors ought to not area undue reliance on IGEN’s ahead-on the lookout statements. IGEN has no intention and undertakes no obligation to update or revise any forward-on the lookout statements, no matter whether as a end result of new details, long run events or normally, except as required by law.
Call:
IGEN Networks Corporation
Neil G. Chan
[email protected]
1(855)912-5378
View first material:https://www.prnewswire.com/information-releases/igen-secures-5m-fairness-line-financing-to-help-product or service-model-development-and-strategic-initiatives-301526258.html
Source IGEN Networks Corporation