IGEN Networks Corporation

IGEN Networks Corporation

September 09, 2015 16:15 ET

IGEN Networks Corp. Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 9, 2015) -


IGEN Networks Corp. (the "Company" or "IGEN") (OTCQB:IGEN)(CSE:IGN) announces a non-brokered private placement of up to 2,500,000 units at a subscription price of US$0.17/C$0.225 per unit for gross proceeds of up to US$425,000/C$562,500. Each unit consists of one common share and one share purchase warrant, each warrant exercisable into one common share at US$0.35/C$0.46 for a period of two years from the closing date.

The Offering is being made available by way of prospectus exemptions in Canada and in such other jurisdictions as the Company may agree where the shares can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements. The common shares issued pursuant to the private placement will be restricted from trading for a minimum four month hold period in accordance with applicable securities laws and exchange policies. The proceeds of the private placement will be used by the Company for general working capital purposes.

About IGEN Networks Corporation:

IGEN Networks Corporation invests in and manages companies that deliver cloud-based services through Machine-to-Machine (M2M) device technologies for the protection and management of mobile assets and commercial fleets. The Company offers a range of self-provisioning applications which are used to manage and recover stolen assets, provide access to roadside assistance programs, and improve productivity of commercial fleets.

IGEN is a fully reporting company in both Canada and the United States. It is publicly traded on the OTCQB under the symbol IGEN, and listed on the CSE under the symbol IGN. For more information, please visit www.igen-networks.com.

Forward-Looking Statements

This news release may contain forward-looking statements or forward looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities law. Risk factors and others relating to IGEN that may cause actual results to differ from those expressed or implied by forward looking statements are set forth in the under the heading "Risk Factors" in IGEN's periodic filings with the British Columbia Securities Commission and the U.S. Securities and Exchange Commission (copies of which filings may be obtained at www.sedar.com or www.edgar.com). These factors should be considered carefully, and readers should not place undue reliance on IGEN's forward-looking statements. IGEN has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Not for distribution to United States wire services or dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws, and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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