Ivrnet Inc. Terminates Definitive Agreement With Flexity Systems Ltd. for Proposed Reverse Takover Transaction

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CALGARY, AB / ACCESSWIRE / June 27, 2023 / IVRNET INC. ("IVRNET" or the "Company") (TSXV:IVI), announces that IVRNET and FLEXITY SYSTEMS LTD. ("FLEXITY") have entered into an amalgamation termination and release agreement, dated June 26, 2023, and that the transaction between IVRNET, FLEXITY, 1333749 B.C. LTD., a wholly owned subsidiary of the Company, and BHG-BC HOLDINGS LTD., as previously announced on November 19, 2021 and March 29, 2022, will not be proceeding.

The common shares of the Company are expected to resume trading on the TSXV upon receiving TSXV approval.

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
1700, 10175 - 101 Street NW, Edmonton, Alberta, T5J 0H3
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.

Forward-Looking Information

This press release contains certain forward-looking information and reflects the Company's present assumptions regarding future events. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, levels of activity, performance, and/or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.

Certain statements contained in this document constitute forward-looking statements and information within the meaning of the applicable Canadian securities legislation. When used in this document, the words "may", "would", "could", "should", "will", "intend", "plan", "propose", "anticipate", "believe", "forecast", "estimate", "expect" and similar expressions used by any of the Company's management, are intended to identify forward-looking statements. Such statements reflect the Company's internal projections, expectations, future growth, performance and business prospects and opportunities and are based on information currently available to the Company. Since they relate to the Company's current views with respect to future events, they are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not intend, and does not assume any obligation, to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except as required by applicable securities legislation, regulations or policies.

SOURCE: Ivrnet Inc.