IGEN's Nimbo Tracking adds four
new dealerships and 1250 vehicles across three states in Third
Quarter 2022
Lake
Elsinore, CA -- October 3, 2022 -- InvestorsHub NewsWire
-- IGEN Networks Corporation (OTC:
IGEN, CSE:
IGN), a leading innovator of software solutions for the
consumer automotive and commercial fleet industries, today
announced the addition of four new dealerships located in three
states with 1250 pre-loaded vehicles acquired through its channel
partners DOWC and Peak Performance.
DOWC®
is among the fastest-growing service contract providers and
administrators in the United States covering all 50 States across
the country. Recipient of the 2021 Dealers' Choice Diamond Award,
DOWC offers customizable F&I products, expertise in compliance,
and a full suite of technology designed to optimize productivity
and expedite claims adjustments, processing, and reporting.
Peak
Performance Team (PPT) is a nationwide organization and industry
leader in providing protection products, lending, technology, and
training to dealerships across 28 states, serving more than 450
automotive dealerships across the US markets.
"We are
delighted to see our national deployment programs with both DOWC
and PPT are taking effect across multiple states. With the
initial pre-load, all vehicles will be activated with inventory
management capabilities and then sold with vehicle theft and family
protection services when a vehicle is purchased from the
dealership. The revenue model has proven very compelling for both
the automotive dealerships and IGEN as every vehicle sold with our
services represent long-term residual revenues for the company,"
said Neil G. Chan, CEO of IGEN Networks Corporation.
About IGEN Networks
Corporation
IGEN
Networks Corporation creates software services for the consumer
automotive and commercial asset management industries enabling
their customers to better manage their assets and protect their
families. 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, please visit: www.igennetworks.net
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.
Contact:
Neil G.
Chan
IGEN
Networks Corporation
Email:
info@igennetworks.net
Call
us: (855)912-5378