CALGARY, Feb. 29, 2016
/CNW/ - Ivrnet Inc. (TSXV: IVI) ("Ivrnet" or the "Corporation") has
received conditional acceptance from the TSX Venture Exchange and
announces the brokered private placement of up to $250,000.00 in 10% convertible debentures of the
Corporation at a purchase price of $1,000.00 per Convertible Debenture (the
"Offering"). The Convertible Debentures have a term of one year and
will be convertible during that time into common shares of the
Corporation at a conversion price of $0.08 per common share. The Corporation and the
holder(s) of the Convertible Debentures may mutually agree to
extend the term of the Convertible Debentures by one year. During
that second year, the Convertible Debentures will be convertible
into common shares at a conversion price of $0.10 per common share.
Finder's fees, broker's fees and/or commissions will be paid in
connection with the Offering. Fees payable to the Agent in
connection with this Offering will be paid in common shares of the
Corporation in an amount equivalent to 10% of the Offering value
upon Closing using the conversion price of $0.08 cents per Common Share equating to a
maximum of 312,500 common shares of the Corporation. The
anticipated date of closing is on or before April 26, 2016.
Proceeds of the Offering will be utilized for general working
capital.
About Ivrnet
Ivrnet is a software and communications company that develops,
hosts, sells and supports value added business automation software.
Our products and services are 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 may 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 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.
www.ivrnet.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.
