TORONTO, 06 Jul. 2021 (GLOBE NEWSWIRE) – iSIGN Media Solutions Inc. (“iSIGN” or “Company”) (TSX-V: ISD) (OTC: ISDSF), a leading provider of interactive mobile proximity marketing and public safety Alert Solutions has announced updates on its private placement plans and other issues.
On June 11, 2021, the Company announced its intention to complete a non-middleman private placement for total gross proceeds of $ 450,000, at a price of $ 0.05 per unit. The TSX Venture Exchange (“Bourse”) did not approve the price of this placement because the private placement proposed by the Company for $ 6.9 million had not been made public at the time iSIGN filed the reservation. price for the placement of $ 450,000.
In addition, iSIGN announces that the documentation required to allow the Company to close the placement of $ 6.9 million previously announced on June 4, 2021, was not received within a timeframe that meets the requirements of the Bourse. TSX-V (“Exchange”). The required documentation is written confirmation that the funds are held in trust pending completion of the Exchange’s review of the Principal Investor’s Personal Information Form (“PIF”).
The Company plans to reapply on the Exchange in the near future with pricing based on the market price in effect at the time of filing.
Finally, the Company requested that Alex Romanov hold the interim CEO position until the Company completes its process of hiring a permanent CEO, pending the approval of the Exchange. . Mr. Romanov accepted the role of CEO on this basis.
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 Bluetooth® 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 as forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”. ”,“ Intend ”and 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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