IGEN Networks Corporation secures GSA Multiple Award Schedule Contract with State and Federal Governments

Rhea-AI Summary

IGEN Networks Corporation (OTCQB: IGEN, CSE: IGN) has secured a GSA Multiple Award Schedule Contract, enabling it to market its Medallion GPS Fleet Platform to various governmental entities across the U.S. This prestigious status positions IGEN as a reputable vendor among the .003% of U.S. companies qualified with GSA or VA contracts. With over $40 billion spent annually by the federal government on GSA Schedule holders, IGEN's contract allows access to significant market opportunities. IGEN plans to enhance inventory to 2,500 hardware units for upcoming transactions.

Positive

• Secured GSA Multiple Award Schedule Contract, enhancing market access.
• Only .003% of U.S. companies have this qualification, boosting credibility.
• Federal Government spends over $40 billion annually on GSA Schedule holders.
• Plans to market Medallion GPS Fleet Platform to multiple states, increasing growth potential.
• Increased inventory to 2,500 hardware units for upcoming opportunities.

Negative

• None.

LAKE ELSINORE, Calif., Dec. 3, 2021 /PRNewswire/ -- IGEN Networks Corporation (OTCQB: IGEN) (CSE: IGN), a leading innovator of cloud-based and Internet of Things (IoT) solutions for the protection and management of mobile assets, today announced its qualification for GSA Multiple Award Schedule Contract with selected states and federal government markets. The GSA/VA status enables IGEN to market its products and services directly to governments including Counties, States, and the Federal Government. 

The GSA/VA Schedule contract status is a Preferred Vendor Status with local, state, and federal governments from which qualified companies are considered to be responsible and reputable to these governments. According to the GSA/VA Solicitation Services, there are only .003% of companies in the United States that are GSA or VA Federal Supply Schedule Contract qualified.  According to The Authority in Government Contracts the Federal Government spends over $40B exclusively with GSA/VA Schedule Contract holders on an annual basis. 

From this GSA/VA Schedule contract status, IGEN will market its Medallion GPS Fleet Platform initially to Counties located in six states that include Pennsylvania, Michigan, New York City, New York, Tennessee, and California. Additional states will be added to IGEN's contract status as opportunities grow across the US. The Medallion GPS Fleet Platform will offer compelling features and services at lower costs with emphasis on ease-of-use. The system is organized around both asset and driver with dispatch capabilities, automated reporting, maintenance, diagnostics reporting, driver behavior scoring, and video tutorials on demand that are built on AWS Cloud-based infrastructure. The Medallion GPS Fleet Platform incorporates the patented "Digital Telematics Signature", which offers greater accuracy in measuring and scoring driver behavior across diverse fleets providing a powerful tool for assessing actuarial risk of assets and their drivers. 

"Combined with our GSA/VA contract status, we now have the process to facilitate transactions with the Counties across all US government markets. In preparation we have increased our inventory levels to 2500 hardware activation units for the next quartile period," said Neil G Chan, CEO of IGEN Networks Corp.  The diversity of government assets along with the self-insurance of these assets creates an excellent fit with the capabilities of our Medallion GPS Fleet Platform."   

About IGEN Networks Corporation

IGEN Networks Corporation provides peace-of-mind to automotive consumers and their families through direct access to Internet-of-Things (IoT) cloud-based services that include Stolen Vehicle Protection, Real-time updates on asset health and Driver Behavior. 

IGEN is a fully reporting company in both Canada and the United States. It is publicly traded on the OTCQB 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

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SOURCE IGEN Networks Corporation

FAQ

What is the significance of IGEN Networks' GSA contract?

The GSA contract enables IGEN to market its products directly to local, state, and federal governments, enhancing its business prospects.

How does IGEN Networks plan to utilize its GSA contract?

IGEN will market its Medallion GPS Fleet Platform to counties in six states, expanding its reach in the government sector.

What are the expected benefits of IGEN's GSA contract for investors?

The GSA contract potentially opens new revenue streams, as the federal government spends over $40 billion annually on such contracts.

Which states will initially benefit from IGEN's GSA contract?

Initially, IGEN will market its platform to counties in Pennsylvania, Michigan, New York City, New York, Tennessee, and California.

What does IGEN's inventory increase to 2,500 units signify?

This inventory increase indicates IGEN's preparation for anticipated demand from government contracts.