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Ivrnet Closes Fully Subscribed Non-Brokered Private Placement

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Ivrnet Closes Fully Subscribed Non-Brokered Private Placement

Calgary, Alberta (FSCwire) – Ivrnet Inc. (TSXV: IVI) (“Ivrnet” or the “Corporation”)

Ivrnet received Final Acceptance from the TSX Venture Exchange regarding the completion of the non-brokered private placement declared on May 2, 2018. $250,000.00 in 17% convertible debentures of the Corporation at a purchase price of $1,000.00 per Convertible Debenture (the “Offering”) have been issued to subscribers in order to affect the closing of the Offering. The Convertible Debentures have a term of one year and will be convertible during that time into common shares of the Corporation at a conversion price of $0.08 per common share. The Corporation and the holders of the Convertible Debentures may mutually agree to extend the term of the Convertible Debentures by one year. During that second year, the Convertible Debentures will be convertible into common shares at a conversion price of $0.10 per common share. Any shares issued upon conversion are subject to a 4 month hold period from the date of conversion. Insider Placees did not compose any portion of the Offering.

No finder’s fees, broker’s fees and/or commissions were paid in connection with the Offering.

Proceeds of the Offering for general working capital.

Further information on Ivrnet is available at www.sedar.com.

About Ivrnet

Ivrnet is a software and communications company that develops, hosts, sells and supports value added business automation software. Our products and services are 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.

For additional information please contact:

Chris L. Topolniski – Chief Operating Officer, Ivrnet Inc.

Direct: (403) 538-9722

Cellular: (403) 870-2434

E-mail: c.topolniski@ivrnet.com

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.

To view the original release (with media), please click here

Source: Ivrnet Inc. (TSX Venture:IVI)

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