CALGARY, April 27, 2015 /CNW/ - Ivrnet Inc. (TSXV:
IVI) ("Ivrnet" or the "Corporation") announces the non-brokered
private placement of up to 10,000,000 units of the Corporation (the
"Units") for total aggregate proceeds of up to $500,000 (the "Offering"). 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.
The anticipated date of closing is on or before May 30, 2015. 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.
David L. Snell, Ivrnet's Chief
Executive Officer comments, "We are extremely excited about
entering into our third round of financing in order to facilitate
attainment of our Company's long term business goals.
Fiscal 2014 was and Q1/Q2 2015 continue to be pivotal periods
for our company. Positive business results have been realized
through adherence to and execution of our business reorganization
and restructuring plan. Of note are the following.
- Human resource full time equivalents in internal cost center
positions were further reduced.
- Client and strategic partner product and service focus forums
were and continue to be held by our Product and Sales groups. These
forums are instrumental in ensuring that our products and services
continue to meet and/or exceed the specific and high demands of our
end users and are also critical in predicting future market
trends.
- Further refinement of processes in the Development and Project
Management areas of our business were implemented.
- A targeted Sales and Product plan along with congruent resource
matching has been finalized and positioned for
implementation."
Expanding on David Snell's
comments above, Chris Topolniski,
Ivrnet's Chief Operating Officer adds, "The focus forums Mr. Snell
references have assisted us immeasurably in determining where our
Product, Development and Sales efforts need to be focused at this
critical juncture. Specifically, continued Development of our
redesigned core software platform, Ivrnet Central; our market
leading online and telephony based credit card payment processing
products, SafePay/TelePay; and also, our market proven SMS based
communication product suites, including AdCentral and SafeTeam.
It's also important to note that the continued Development
efforts, in all product areas denoted above, have already led to
decreased operational and support costs for Ivrnet. This, in turn,
will lead to increased profit margins per product line as
efficiencies and scalabilities are consistently being improved with
each passing development and implementation cycle.
Additionally, these efforts have and continue to be conducted in
concert with the continued support and maintenance of key
legacy-based products and services, so as to facilitate sustainable
client retention levels and the corresponding monthly recurring
revenue streams associated with same.
The refinements and process enhancements in our Development and
Project Management areas, to which Mr. Snell refers, have already
enabled us to meet and/or exceed target delivery dates on key
milestones relating to our newest products and project
deliverables. This, in turn, has enabled us to move to the next
stage of our rebuild/restructuring strategy and focus on an
aggressive Sales and Marketing campaign for these targeted product
lines. Being able to focus on the introduction and sale of these
new and improved product lines into the market has enabled us to
make the directional change to a truly productized, ROI-based sales
organization. We are now positioned to penetrate metrics where our
products will generate the highest rate of return for our company
and its shareholders. To that end, Ivrnet has recently added two
Sales Specialists and two Senior Product/Business Development
Specialists, so as to facilitate our enhanced sales centric
business vision and drive new-sales based monthly recurring
revenues.
By continuing to "give people back their time" through the
design, build and implementation of our proprietary business
automation software products, Ivrnet will continue to both reduce
operational costs and drive revenue for our valued clients and
strategic business partners."
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 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.
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.