IGEN Networks Corporation

IGEN Networks Corporation

January 05, 2016 08:30 ET

IGEN Networks Subsidiary Receives Largest Single Order in the Company's History

MURRIETA, CALIFORNIA--(Marketwired - Jan. 5, 2016) - IGEN Networks Corp. (the "Company" or "IGEN") (OTCQB:IGEN)(CSE:IGN), announces that its wholly owned subsidiary, Nimbo LLC ("Nimbo"), has received an order for 3600 vehicle service activations from Sky Force Technology Inc. These services, to be deployed across several high volume car dealerships located in Southern California, include Stolen Vehicle Recovery and Roadside Assistance programs integrated with advanced software services that provide consumers with direct and real-time information on vehicle status and conditions.

This order represents the largest single order in the company's history in regards to both service activations and dollar value. Implementation and delivery will be spread out over 2016. IGEN notes that this order is for the provision of m2m mobile services, reflecting the Company's strategic migration to focussing on providing higher margin recurring revenue services.

Jim Kwon, Director of Marketing and Business Development of Star Shield Solutions, stated, "We are extremely pleased with the results of our trial announced earlier this year with Nimbo LLC. The trial demonstrated the value of Nimbo's services to our customers, and their ability to deliver the quality and support we require." He concluded, "This success enables us to confidently undertake expansion of Nimbo's services with our dealers across Southern California."

Neil G. Chan, President and CEO of IGEN, added, "Achieving this milestone is significant for us as it re-affirms key metrics for success in our business model including significant penetration of our services into franchise dealers across North America."

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. The terms and phrases "goal", "commitment", "guidance", "expects", "would", "will", "continuing", "drive", "believes", "indicate", "look forward", "grow", "outlook", "forecasts", "intend", 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 statements regarding investment liquidity, financing options and long term goals of the Company, general economic conditions, IGEN's expectations regarding its business, customer base, 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 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.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.

Contact Information