Auto Stock News: IGEN
Networks (OTCQB: IGEN) Subsidiary Nimbo LLC Announces Partnership with Star
Shield Solutions LLC and Sky Force Technology Inc. to Launch Automotive
Dealership Programs in Southern California
Initial order received to install systems on 500 vehicles
Murrieta, CA - June 2, 2015 (Investorideas.com Newswire) IGEN Networks Corp (the
“Company” or “IGEN”) (OTCQB: IGEN) (CSE: IGN), announces that its wholly owned
subsidiary, Nimbo LLC (“Nimbo”), in partnership with Star Shield Solutions LLC
and Sky Force Technology Inc., has launched a pilot program targeted at a high
volume automotive dealership store located in Southern California. The store
represents one of sixteen dealerships in Southern California with a combined
estimate of 3200 vehicles available for program activations each month. The
partners will market products and technology that provide protection and
management of vehicles, as well as a roadside assistance program. Shipments and
installation on 500 vehicles has already begun.
Jim Kwon, Director of Marketing and Business Development of Star Shield
Solutions, stated, "We are extremely excited to be partnered with Nimbo
LLC, and believe that their in-depth knowledge of the retail automotive
dealership Industry, along with their flexibility to adapt to the dealership
environment, will allow us to offer a highly competitive and compelling
solution to our customers.”
Bill Boyles, VP Sales and Marketing of Nimbo LLC, stated, "This
opportunity is a significant milestone for us in establishing market presence
in Southern California. By combining our unique programs with Star Shield's
access to dealerships throughout the state, we will be establishing a
significant foot-print in one of the largest automotive markets in the
country.”
According to First Research, an estimated 50,000 automotive dealers
generated over $700 billion in annual revenues that accounted for 15.6 million
new vehicles and 40.5 million used vehicles sold through dealer channels in the
US in 2013. These dealer channels are expected to double in revenues over the
next five years through to 2018. It is also noted that there are more than
800,000 vehicles stolen in the U.S. each year. The roadside assistance industry
generates more than $6B in annual revenues.
Read this release in full
at http://www.investorideas.com/news/2015/auto/06021.asp
About Star Shield Solutions, LLC:
Star Shield Solutions, LLC is an OEM and aftermarket supplier of
automotive solutions nationwide. They supply OEM genuine accessories for
Toyota, Lexus, Scion, and Audi.
Star Shield Solutions, LLC is also an authorized Aftermarket Distributor
of 3M Auto Care products. Sky Force Technology Inc., is an authorized
distributor of GPS products nationwide for indirect lending solutions for 3 rd
Party Lenders in the Retail Automotive Dealership market and offers nationwide
installation services via Star Shield Solutions Certified Installation network
for both OEM and Aftermarket applications.
About IGEN Networks Corporation:
IGEN Networks Corporation invests in and manages companies that deliver
cloud-based services through Machine-to-Machine (M2M) device technologies for
the protection and management of mobile assets and commercial fleets. The
Company offers a range of self-provisioning applications which are used to
manage and recover stolen assets, provide access to roadside assistance
programs, and improve productivity of commercial fleets.
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.igen-networks.com .
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.edgar.com ). 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 Information
Corporate Inquiries:
GEN Networks Corporation
Attn: Richard Freeman
1(888)244-3650
rfreeman@igen-networks.com
www.igen-networks.com
GEN Networks Corporation
Attn: Richard Freeman
1(888)244-3650
rfreeman@igen-networks.com
www.igen-networks.com
Investor Relations:
Green Chip Investor Relations:
Attn: Matt Chipman
(818)923-5302
IGEN@GreenChipIR.com
www.GreenChipIR.com
Green Chip Investor Relations:
Attn: Matt Chipman
(818)923-5302
IGEN@GreenChipIR.com
www.GreenChipIR.com
More Info:
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