IGEN Networks Corp. (IGEN: OTCBB)
LAS VEGAS, Feb. 26 /PRNewswire-FirstCall/ - IGEN Networks Corp. is pleased to announce the appointment of two new directors, Monty Ormsby, as the new President and Michael Grudman as the new CFO and Secretary. The Company regrets to report the recent passing of one of its directors, Jim Fitzpatrick, and acknowledges his prior contributions to the corporation. John Moore will step down as the Company's President and CFO, but will remain as an interim director.
The Company would also like to release highlights of the new direction for IGEN. The Company has undertaken discussions with a bio-technology company and intends to acquire the global licensing of a patented animal diagnostic test which is in the final stages of completion.
The Company has entered into consulting agreements with Stuart Brame, and Ron Loudoun to assist the Board in determining, identifying and acquiring sustaining business elements for the Company. Additionally, the Company has engaged Pro-Act Management Inc. to provide consulting services with relation to corporate planning and compliance matters.
The Company will pursue raising new capital to finance the contemplated acquisition and development of the bio-technology and to pay-down its current liabilities. Further details of the planned acquisition and financing will be announced as they develop.
On behalf of the Board of Directors
IGEN Networks Corp.
Safe Harbour Statement under the United States Private Securities Litigation Act of 1995; This release made may contain forward-looking statements that are affected by known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed, implied or anticipated by such forward-looking statement. The Company does not intend to update this information and disclaims any legal liability to the contrary.
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