TORONTO, Sep 03, 2021 (GLOBE NEWSWIRE) – iSIGN Media Solutions Inc. (âiSIGNâ or âCompanyâ) (TSX-V: ISD) (OTC: ISDSF), a leading provider of mobile proximity marketing interactive and security alert solutions announced that it has completed the last installment (the “Final slice“) its previously announced private placement without intermediary (“Placement“) up to $ 1,200,000.
The Company completed the Final Tranche of the Placement for total gross proceeds of $ 110,000 by issuing 2,200,000 Units (âUnits“) At a price of $ 0.05 per unit, each unit consisting of one common share of the Company (each one”Ordinary share“, Collectively, the”Ordinary actions“) and a common share purchase warrant (each warrant is referred to herein as a”To guarantee“And collectively, the”Mandates“). Each warrant entitles its holder to purchase one common share at a price of $ 0.075 for a period of 24 months from the closing date. All securities are subject to a four month holding period.
With this Final Tranche, the Company received funds totaling $ 832,510 and issued a total of 16,650,200 Units (âUnitsâ) At a price of $ 0.05 per unit. Each unit consists of one ordinary share of the Company (each one âOrdinary share“, Collectively, the”Ordinary actions“) and a common share purchase warrant (each warrant is referred to herein as a”To guarantee“And collectively, the”Mandates“). Each warrant entitles its holder to purchase one common share at a price of $ 0.075 for a period of 24 months from the closing date of each tranche. All securities are subject to a four-month holding period from the date of issue.
The proceeds of the placement will be used for the development of new software and the improvement of existing technologies and for operational purposes.
The participants in this placement include Alex Romanov and Bruce Reilly, who are considered ârelated partiesâ as that term is defined in Multilateral Instrument 61-101, Protection of holders of minority securities in special transactions (âMI 61-101â), being the company’s strategic advisor to the CEO and CFO and director.
For this transaction, the Company relied on the exemption from the formal valuation requirements of MI 61-101 contained in article 5.5 (a) of MI 61-101 and relied on the exemption from the requirements approval of minority shareholders of MI 61-101 contained in article 5.7 (a) of MI 61-101.
About iSIGN Media
iSIGN, a Canadian company based in Toronto (Richmond Hill), Ontario, is a data-driven software as a service (SaaS) company that is a pioneering leader in security alert messaging location-based and proximity marketing using BluetoothÂ® and Wi-Fi connectivity in complete confidentiality. Creators of the Smart product suite, a patented interactive proximity marketing technology, iSIGN enables message delivery to nearby mobile devices, with real-time reporting and analysis on a variety of metrics. 2019 winner of the Richmond Hill Innovator of the Year award. Partners include IBM, Keyser Retail Solutions, Baylor University, Verizon Wireless, TELUS, and Mtrex Network Solutions. www.isignmedia.com
This press release may include certain forward-looking statements based on current expectations, which involve risks and uncertainties associated with the business of iSIGN Media and the environment in which the company operates. All statements contained in this document that are not statements of historical fact can be considered forward-looking, including those identified by the expressions âanticipateâ, âbelieveâ, âplanâ, âestimateâ, âexpectâ. â,â Intend âand similar expressions insofar as they relate to the Company or its management. Forward-looking statements are not historical facts but reflect iSIGN Media’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties which could cause actual results or events to differ materially from current expectations. iSIGN Media assumes no obligation to update any forward-looking statements or to update the reasons why actual results may differ from those reflected in forward-looking statements.
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iSIGN Media Solutions Inc.
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