IGEN NETWORKS CORP - IGEN STOCK NEWS

IGEN Networks Corporation (OTC: IGEN, CSE: IGN) has provided a mid-year progress update highlighting growth opportunities in consumer and commercial markets. The company focuses on reducing 'rating-errors' in the insurance industry, estimated at $8B annually, by advancing its intellectual property in AI and EV data collection. Consumer brands Nimbo Tracking, CU Trak, and FamilyShield have expanded significantly, with Nimbo securing new dealership partnerships and CU Trak growing through credit unions. Medallion GPS is poised for market entry with NY State Counties, targeting 12,000 commercial vehicles.

IGEN Networks Corporation has announced a $5 million Equity-Line Financing agreement with Jefferson Street Capital LLC. The funding will be deployed over three years to enhance IGEN's product brands and strategic initiatives in consumer and commercial markets. The Equity-Line is designed to align with shareholder interests, allowing JSC to hold 4.99% of IGEN's outstanding shares. CEO Neil G. Chan emphasized that this capital will support five product brands, strengthen IGEN's Intellectual Properties, and develop AI algorithms to boost driver safety and fleet productivity.

IGEN Networks Corporation has launched the Medallion GPS PRO, a cutting-edge solution tailored for Medium-to-Heavy Duty commercial fleets. Exclusively available to Counties, State, and Federal Governments, this platform incorporates the patented Driver Telematics Signature technology for enhanced driver safety and performance scoring.

The Medallion GPS PRO utilizes 5G technology for real-time updates, supports complex refrigeration applications, and includes AI-based monitoring systems. This innovation positions IGEN to meet the diverse needs of government fleets effectively.

IGEN Networks Corporation (OTC: IGEN, CSE: IGN) announced the launch of Medallion GPS PRO, a cloud-based solution tailored for Medium-to-Heavy Duty commercial fleets. This advanced application leverages 5G technology and IGEN's patented algorithms for driver performance, safety, and compliance, offering features like real-time fleet updates, support for extensive landmark locations, and comprehensive vehicle data connectivity. The system also addresses emissions monitoring and includes AI-based camera systems for enhanced asset protection, positioning IGEN as a leader in commercial fleet solutions.

IGEN Networks Corporation (OTCQB: IGEN) has extended its partnership with the County Executives of America (CEA) for three more years. This renewal facilitates GSA Multiple Award Schedule Contracts, granting IGEN access to more than 700 member counties in the U.S. with a total of approximately 350,000 light commercial fleet assets. IGEN's Medallion GPS platform provides cost-effective fleet management solutions with features like automated reporting and driver behavior scoring, built on a robust AWS Cloud infrastructure.

IGEN Networks Corporation (OTCQB: IGEN) has announced a nationwide partnership with DOWC®, enhancing its Nimbo Tracking services across all 50 states. This agreement allows DOWC® to offer inventory management solutions to automotive dealerships and IGEN's 'FamilyShield' services to consumers. Recognized for its rapid growth and innovation, DOWC® aims to leverage this partnership to improve dealer operations and profitability. IGEN now expands its distribution network significantly, targeting diverse consumer automotive segments.

IGEN Networks Corporation (OTCQB: IGEN) has received its first Master Purchase order for 1500 vehicle activations as part of a new nationwide Dealership Program with the Peak Performance Team. This collaboration aims to enhance IGEN's Nimbo Tracking distribution channels and 'FamilyShield' services, benefitting automotive consumers across the United States. The Peak Performance Team services over 450 dealerships in 28 states, providing proven expertise in automotive protection products and technology.

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.