iGen Networks Corporation

iGen Networks Corporation

January 14, 2014 08:00 ET

iGen Networks Corporation Signs Global M2M License Agreement

The Company's Cloud Platform leverages proven M2M applications

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 14, 2014) - iGen Networks Corporation (OTCQB:IGEN) is pleased to announce the signing of a global license agreement for a broad range of Machine-to-Machine (M2M) solutions. The license granted by privately-held GPS Holdings Ltd., which presently supports more than 50,000 commercial trucking and automotive assets, will enable iGen to leverage its existing infrastructure that serves small businesses in more than 40 locations across North America while at the same time rapidly expanding into new vertical markets.

iGen Networks joins the M2M ecosystem, by recognizing and developing solutions that fulfill the demand for near, on-demand ROI. According to the latest report from Infonetics Research, there are 190 million M2M connections today. These connections via cellular and other WAN wireless technologies are projected to nearly triple by 2017, becoming the largest growth engine for operator revenue.

"The securing of this asset enables us to grow our business much more rapidly without many years of software development normally required to enter the M2M markets," says Neil Chan, Chief Executive Officer, iGen Networks. "Through the innovative iGen Cloud Platform, we will be developing and offering solutions that can help make great impact in the M2M space. From tracking vehicles for faster and more efficient fleet management, to vehicle location and auto-recovery of stolen vehicles, M2M solutions through iGen will minimize costs and improve productivity."

About iGen Networks Corporation

iGen Networks Corporation applies capital and proven management experience to accelerate growth of private and secure cloud-based services that serve small to medium size businesses, government agencies, and commercial enterprise.

iGen Networks Corporation is a fully reporting company in both Canada and the United States, where it is publicly traded on the OTC market and quoted on the OTCQB. For more information, please visit www.igen-networks.com.

Forward-Looking Statements

This news release may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities law. The terms and phrases "goal", "commitment", "guidance", "expects", "would", "will", "continuing", "drive", "believes", "indicate", "look forward", "grow", "outlook", "forecasts", and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by IGEN in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that IGEN believes are appropriate in the circumstances, including but not limited to general economic conditions, IGEN's expectations regarding its business, strategy and prospects, and IGEN's confidence in the cash flow generation of its business. Many factors could cause IGEN's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: risks related to competition; IGEN's reliance on key personnel; IGEN's ability to maintain and enhance its brand; and difficulties in forecasting IGEN's financial results, particularly over longer periods given the rapid technological changes, competition and short product life cycles that characterize the mobile application industry. These risk factors and others relating to IGEN that may cause actual results to differ are set forth IGEN's periodic filings with the U.S. Securities and Exchange Commission (copies of which filings may be obtained at www.sedar.com or www.sec.gov). 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.

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