IGEN's Nimbo Tracking adds four new dealerships and 1250 vehicles across three states in Third Quarter 2022

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: [e-mail]

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