Subject: FNC
Ivrnet Finalizes Additional Financing
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.
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.
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