MURRIETA, Calif., Aug. 08, 2016 (GLOBE NEWSWIRE) -- IGEN Networks Corp. (the “Company” or “IGEN”) (OTCQB:IGEN) (CSE:IGN), announces that its wholly owned subsidiary, Nimbo LLC (“Nimbo”), has activated in excess of 3000 vehicles over the last 30 day period – close to 100 activations per day – as part of the successful fulfilment of previously announced orders received through the Company’s Verizon partnership channels. Subsequent provisioning of additional consumer services for new vehicles sold across automotive dealerships that have Nimbo devices pre-installed has already begun generating additional high margin revenue, and is expected to continue to do so throughout the balance of 2016. Nimbo products and services include vehicle telematics hardware and Smart Phone-based applications integrated with SVR Plus (Stolen Vehicle Recovery), and SVR Platinum (24HR Roadside Assistance) services, all of which provide consumers with direct and real-time information on vehicle status and driver behaviour.
Neil G. Chan, President and CEO of IGEN, added “Achieving this milestone is significant for us as it re-affirms our strategy of leveraging the Verizon sales and marketing programs to gain access to much larger franchise dealerships across the country. The rate of new car activations and installations have increased several-fold since the launch of our Smart Phone-based applications through our Verizon partnership channels”.
About IGEN Networks Corporation:
IGEN Networks Corporation invests in and manages companies that deliver cloud-based services through Machine-to-Machine (M2M) device technologies for the protection and management of mobile assets and commercial fleets. The Company offers a range of selfprovisioning applications which are used to manage and recover stolen assets, provide access to roadside assistance programs, and improve productivity of commercial fleets.
Forward-Looking Statements
This news release may contain forward-looking statements or forward looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities law. The terms and phrases "goal", "commitment", "guidance", "expects", "would", "will", "continuing", "drive", "believes", "indicate", "look forward", "grow", "outlook", "forecasts", “intend”, and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by IGEN in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that IGEN believes are appropriate in the circumstances, including but not limited to statements regarding investment liquidity, financing options and long term goals of the Company, general economic conditions, IGEN's expectations regarding its business, customer base, strategy and prospects, and IGEN's confidence in the cash flow generation of its business. Many factors could cause IGEN's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: risks related to competition; IGEN's reliance on key personnel; IGEN's ability to maintain and enhance its brand; and difficulties in forecasting IGEN's financial results, particularly over longer periods given the rapid technological changes, competition and short product life cycles that characterize the mobile application industry. These risk factors and others relating to IGEN that may cause actual results to differ are set forth in the under the heading "Risk Factors" in IGEN's periodic filings with the British Columbia Securities Commission and the U.S. Securities and Exchange Commission (copies of which filings may be obtained at www.sedar.com or www.sec.gov ). These factors should be considered carefully, and readers should not place undue reliance on IGEN's forward-looking statements. IGEN has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Corporate Inquiries: IGEN Networks Corporation Attn: Richard Freeman 1-(888)-244-3650 rfreeman@igen-networks.com www.igen-networks.com Investor Relations: IGEN Networks Corporation Attn: Neil G. Chan 1-888-244-3650 neilgchan@igen-networks.com www.igen-networks.com
