Ivrnet Non-Brokered Private Placement Amendment & Shares for Debt Issuance

CALGARY, Feb. 1, 2016 /CNW/ - Ivrnet Inc. (TSXV: IVI) ("Ivrnet" or the "Corporation") announces the following amendment of the Corporation's Non-brokered Private Placement declared on April 27^th, 2015.

Total Unit issuance and aggregate proceeds of the Offering have been adjusted to 11,120,000 and $556,000 respectively. Each unit is composed of one common share of the Corporation and one full share purchase warrant. Each Warrant entitles the holder to purchase one additional Common Share (i) at a price of $0.07, if the Warrant is exercised in the first year following its issuance, (ii) at a price of $0.09, if the Warrant is exercised in the second year following its issuance, or (iii) at a price of $0.12, if the Warrant is exercised in the third year following its issuance. Shares, 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.

Insider Placees composed 26.98% of the Offering. No finder's fees, broker's fees or commissions were paid in connection with the Offering.

As per requirements of TSX Venture Exchange Policy 4.3, the Corporation also wishes to announce the issuance of securities in exchange for debt.

Ivrnet has received permission from the TSXV to issue 1,434,000 Units of the Corporation at a price of $0.05 cents per unit and 600,000 Common Shares of the Corporation at a price of $0.05 per share. The total Canadian dollar value of debt converted to Units and Common shares is $71,700 and $30,000 respectively. Each Unit will be composed of one common share of the Corporation and one full share purchase warrant. Each Warrant entitles the holder to purchase one additional Common Share (i) at a price of $0.07, if the Warrant is exercised in the first year following its issuance, (ii) at a price of $0.09, if the Warrant is exercised in the second year following its issuance, or (iii) at a price of $0.12, if the Warrant is exercised in the third year following its issuance. Shares, 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.

This securities issuance has not created a new Control Person of the Corporation/Issuer.

About Ivrnet
Ivrnet is a software and communications company that develops, hosts, sells and supports value added business process improvement 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.

Forward-looking Information
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "expect", "may", "will", "project", "should" or similar words suggesting future outcomes. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause materially different outcomes from that expressed or implied herein; including but not limited to: risks related to capital markets, general economic conditions, legislative and regulatory developments, and regulatory approval processes, as well as those factors discussed in Ivrnet's documents filed on SEDAR (www.sedar.com).

Although Ivrnet has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated. Accordingly, readers should not place undue reliance on forward-looking statements. Ivrnet does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws. Additional information on Ivrnet is available at www.sedar.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.

SOURCE IVRnet Inc.

Chris L. Topolniski - Chief Operating Officer, Ivrnet, Direct: [phone], E-mail: [email protected]