CALGARY, Sept. 27, 2017 /CNW/ - Ivrnet Inc. (TSXV: IVI)
("Ivrnet" or the "Corporation") announces the signing of a
subsequent financing with RC Morris & Company.
As per the terms and conditions of the $3,000,000 credit facility provided by
R.C. Morris & Company Special
Opportunities Debt Fund III LP; previously announced on
August 3, 2016, financing of
$500,000 was provided at a cost of
17% and 1,166,667 share purchase warrants at a market price of
$0.03. The Warrants expire no later
than five (5) years from date of issuance. 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.
"We continue to focus on our goal of generating positive EBITDA
from recurring operations only" explains Ivrnet CEO David Snell. He continues, "With this achieved,
each additional sale becomes incremental profit. This advance is
intented to fund the final sales growth that will take us to this
point quickly."
Further information about Ivrnet's most recent business
activities can be found under "News" on the Ivrnet website
(www.ivrnet.com).
About Ivrnet
Ivrnet is a software and communications company that develops,
hosts, sells and supports value added business process improvement
and advertising software applications, 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.
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.