Ivrnet Inc. secures new lender, decreases cost of capital

For Immediate Release

September 2, 2009

Calgary, Alberta

(TSX Venture Exchange: “IVI”)

 

Issued Common Shares: 28,493,167

 

 

Ivrnet Inc. secures new lender, decreases cost of capital

Calgary, Alberta – September 2, 2009 – Ivrnet Inc. (TSX Venture: IVI) is pleased to announce that it has established new lending facilities with the Agriculture Financial Services Corporation. Ivrnet will replace $240,000 of operating lines ranging from 12% - 18% with a $500,000 term loan, amortized over 10 years at a rate of 4.71%   The new loan decreases total interest payments yet doubles available cash.

The new loan is secured by Ivrnet as well as a personal guarantee from Ivrnet’s CEO.  As compensation for the guarantee, the CEO will receive a bonus equivalent to 20% of the value of the loan, payable in common shares of Ivrnet.  The distribution of shares will be carried out pursuant to TSX Venture Exchange Policy 5.1 and will rely on the prospectus and registration exemption in Section 2.24 of National Instrument 45-106.  The bonus is subject to TSX Venture Exchange approval. 

About Ivrnet Inc. – Ivrnet is a communications company that develops and operates intelligent software applications, delivered through traditional phone networks and over the Internet. These applications facilitate automated interaction; 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 anytime from anywhere in North America via voice, phone, fax, email, texting and the Internet.

About AFSC – AFSC is a provincial crown corporation with a private sector Board of Directors that provides farmers, agribusinesses and other small businesses loans, crop insurance and farm income disaster assistance. 

For additional information please visit our website at www.ivrnet.com, or contact:

 

David L. Snell

Ivrnet Inc.

President and CEO

(403) 538-4540

eMail: d.snell@ivrnet.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This information release may contain certain forward-looking information.  Actual future results may differ materially from those contemplated.  The risks, uncertainties and other factors that could influence the actual results are described in documents filed with regulatory authorities.


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