iSIGN Media Solutions Inc. Announces the Closing of the Previously Announced Non-Brokered Private Placement for $200,000
February 24 2010 - 8:24AM
Marketwired
iSIGN Media Solutions Inc. ("iSIGN" or "Company") (TSX VENTURE:
ISD), is pleased to announce that it has closed the non-brokered
private placement that was previously announced on February 16,
2010, subject to final TSX Venture Exchange acceptance.
iSIGN has completed the placement by issuing 800,000 common
share units ("Units") at a price of $0.25 per Unit for aggregate
gross proceeds of $200,000. Each Unit consists of one common share
("Common Share") in the capital of iSIGN and one common share
purchase warrant ("Warrant"). Each Warrant entitles the holder
thereof to acquire one Common Share at an exercise price of $0.50
per share until February 19, 2013. All securities are subject to a
four-month hold period.
The proceeds will be used by the Company to increase its sales
and marketing initiatives.
In connection with the closing of the private placement, a cash
commission of $19,425 has been paid and 77,700 common share
compensation units have been issued at a price of $0.25 per unit to
arm's length parties. Each Unit consists of one common share
("Common Share") in the capital of iSIGN and one common share
purchase warrant ("Warrant"). Each Warrant entitles the holder
thereof to acquire one Common Share at an exercise price of $0.50
per share until February 19, 2012.
About iSIGN Media
iSIGN is a leading developer of location-based interactive
proximity advertising solutions that deliver rich media, permission
based messages, free of charge to cell phones using Bluetooth
connectivity. The Company's patent-pending advertising platform
combines the precision of direct marketing and the tracking
potential of the Web to deliver more cost effective and ROI-driven
advertising than is possible via print, radio and television. iSIGN
is based in Markham, Ontario with R&D and customer support
operations in Vancouver, BC. iSIGN is publicly traded in Toronto
(TSX.V) under the symbol "ISD". Additional information about iSIGN
Media can be found at www.isignmedia.com.
Forward-Looking Statements
This news release includes certain forward-looking statements
that are based upon current expectations, which involve risks and
uncertainties associated with iSIGN Media's business and the
environment in which the business operates. Any statements
contained herein that are not statements of historical facts may be
deemed to be forward-looking, including those identified by the
expressions "anticipate", "believe", "plan", "estimate", "expect",
"intend", and similar expressions to the extent they relate to the
Company or its management. The 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 that
could cause actual results or events to differ materially from
current expectations, including the matters discussed under "Risks
and Uncertainties" in the Filing Statement filed on October 9th,
2009 with the regulatory authorities. iSIGN Media assumes no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those reflected in
the forward-looking statements.
© 2009 iSIGN Media Solutions Inc. All Rights Reserved. All other
trademarks and trade names are the property of their respective
owners.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: iSIGN Media Solutions Inc. Alex Romanov Chief
Executive Officer (905) 530-2481 alex@isignmedia.com
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