Ivrnet Inc. Announces Amendment to Term Loan and Credit Facility

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CALGARY, AB / ACCESSWIRE / April 14, 2023 / IVRNET INC. ("IVRNET" or the "Company") (TSXV:IVI), announces that the Company and R.C. Morris & Company Special Opportunities Fund III Limited Partnership ("RCM"), the lender of the Company's term loan and credit facility (the "Loan"), have agreed to further amend the Loan to extend the expiry date from April 15, 2023, as previously announced on March 15, 2022, to the earlier of May 15, 2023 or as demanded by RCM. In addition, the Company will incur a loan extension fee in the amount of $82,000 which shall form part of the indebtedness and be due and payable on the maturity date of the Loan. No demand for repayment has been made as of the date of this news release.

About Ivrnet

Ivrnet is a software and communications company that develops, hosts, sells and supports value‐added business automation software. The company's products and services are delivered through the Internet and traditional phone network. These applications facilitate automated interaction through personalized communication between people, mass communication for disseminating information to thousands of people concurrently, and personalized communication between people and automated systems.

For further information on Ivrnet, please contact:

Andrew Watts, President and CEO
Suite 1400, 350 - 7th Avenue S.W., Calgary, Alberta T2P 3N9
Tel/fax: 1.800.351.7227
E-mail: investors@ivrnet.com
Website: www.ivrnet.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Ivrnet Inc.