Ivrnet Announces Closing of Private Placement

CALGARY, AB / ACCESSWIRE / June 25, 2021 / Ivrnet Inc. (TSXV:IVI) ("Ivrnet" or the "Company") is pleased to report that it has closed a non-brokered private placement financing raising $225,000 through the issuance of 4,500,000 common shares at $0.05 per share.

All securities issued under the private placement are subject to a restricted resale period under Canadian securities laws until October 26, 2021. The Company intends to use the net proceeds of the private placement to pay down accounts payable and for general working capital purposes.

Following completion of the private placement, Ivrnet has a total of 99,311,181 common shares issued and outstanding.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of the 1933 Act.

About Ivrnet

Ivrnet is a software and communications company that develops, hosts, sells and supports value‐added business automation software. The company's products and services are delivered through the Internet and traditional phone network. 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.

For further information: please contact Andrew Watts, President and CEO, Ivrnet Inc.; 1400, 350 - 7^th Avenue SW, Calgary, Alberta T2P 3N9; Tel/fax 1.800.351.7227; E-mail: [email protected]; 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.