iGen Networks Corp (IGEN)

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The Equity Financing Agreement with the Selling Stockholder provides that the Selling Stockholder is committed to purchase up to $5,000,000 (“Maximum Commitment Amount”) of our Common Stock over the course of its term. The term of the Equity Financing Agreement commenced on April 3, 2022 and will end on the earlier of (i) the date on which the Selling Stockholder has purchased Common Stock from us pursuant to the Equity Financing Agreement equal to the Maximum Commitment Amount, (ii) April 3, 2025, or (iii) written notice of termination by us.

 

We may draw on the Equity Line from time-to-time, as and when we determine appropriate in accordance with the terms and conditions of the Equity Financing Agreement. The securities included in this Prospectus represent the Common Stock issuable to the Selling Stockholder under the Equity Line.

 

The Selling Stockholder is an “underwriter” within the meaning of Section 2(a)(11) of the Securities Act of 1933, as amended (the “Securities Act”). The Selling Stockholder may sell the shares of Common Stock described in this Prospectus in a number of different ways and at varying prices. We will pay the expenses incurred in registering the shares of Common Stock, including legal and accounting fees. See “Plan of Distribution” for more information about how the Selling Stockholder may sell the shares of Common Stock being offered pursuant to this Prospectus.