IGEN Networks Corp. announced a private placement of promissory note for gross proceeds of $100,000 on April 3, 2022. The transaction included participation from Jefferson Street Capital LLC.

The note is non-convertible and bears interest at a rate of 6% per annum, calculated on the basis of a 365 day year, and is due, in full, on or before October 3, 2022. There are no periodic payments required under the note and the company may pre-pay any amounts owed, in whole or part, at any time without penalty or premium for early payment. Failure to pay the note when due will result in a default interest rate of 18% being imposed upon the amounts due, plus costs and fees associated with collection of the note.