IGEN Networks (OTC: IGEN) (CSE: IGN), a leading innovator of solutions for the consumer automotive, fleet management and supply-chain industries, has closed on nonbrokered private placements with two IGEN directors. According to the announcement, the company completed the transactions with CEO Neil G. Chan and board chair Robert B. Nealon. The private placements were comprised of a combined purchase of 83,333,333 restricted shares at an average price of $.0005625 per share with a hold period of six months. The company noted that currently total common shares (post hold period) held by Chan are 105,120,008 while Nealon holds 41,650,000; combined holdings of all IGEN directors and officers is 173,138,963 common shares or 8% of total shares outstanding. “Our directors and officers have been instrumental in positioning the company with great partnerships, technologies and intellectual properties over the last several years despite the macro-challenges,” said IGEN Networks CEO Neil G. Chan in the press release. “We have chosen to demonstrate our convictions through increased ownership of IGEN and will continue to focus on the execution of our 2023 plan.”
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About IGEN Networks Corporation
IGEN Networks Corporation provides software solutions and consulting services for the consumer automotive, asset management, and supply-chain industries. The solutions enable customers to mitigate risk, improve driver safety, and increase productivity. IGEN is a fully reporting company in both Canada and the United States. It is publicly traded on the OTC Markets under the symbol IGEN, and listed on the CSE under the symbol IGN. For more information about the company, please visit www.IGENNetworks.net
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