iSIGN Media Announces a Letter of Intent to Acquire Pinpoint Media Group
June 24 2011 - 12:12PM
Marketwired
iSIGN Media Solutions Inc. ("iSIGN" or "Company") (TSX VENTURE:
ISD) is pleased to announce that they have signed a letter of
intent ("LOI") to acquire all of the issued and outstanding shares
and secured debt of Pinpoint Media Group Inc. ("Pinpoint") for the
issuance of 7.5 million iSIGN treasury shares. In addition iSIGN
will provide a $250,000 secured loan prior to the closing to fully
recapitalize Pinpoint.
The transaction is subject to executing a legally binding
purchase agreement, TSX Venture Exchange approval and satisfactory
renegotiation of the Virtual Private Advertising Network Agreement
("VPAN") with Alimentation Couche-Tard Inc., for their in-store
digital advertising contract that will utilize iSIGN's
technology.
Alimentation Couche-Tard Inc, ("Couche-Tard") is the leader in
the Canadian convenience store industry, doing business under the
Couche-Tard and Mac's brands and in the United States, as Circle
K.
"This is an excellent strategic opportunity for iSIGN to
vertically integrate its ownership of the digital distribution and
collection of advertising, media and customer data associated with
the Pinpoint network and also implement the iSIGN technology across
one of the largest digital signage networks in North America," said
Alex Romanov, iSIGN's Chief Executive Officer. "We will be
acquiring a network of approximately 5,600 digital display units
located in a national convenience store chain, as well as the 300
digital display units that will be in the city of Calgary's
municipal buildings. Using the metrics that we are gathering from
our installations in the convenience stores, we will be negotiating
with advertising agencies and brands that currently utilize the
network to grow the $2.2 million in revenues that Pinpoint realized
in their last fiscal year. In addition, we will be able to increase
the speed of the installations of our patent-pending software into
Pinpoint's network, that will result in a faster realization of our
own revenue."
"We believe that this platform will be a benchmark for the
digital signage and mobile advertising industry, by enabling brands
to reach the 1.5 million consumers a day in Pinpoint's convenience
store network."
"We are excited about the iSign technology and believe it will
satisfy the demand of advertisers for real-time metrics which will
translate into increased revenues on the VPAN," said Enmanuel
Rumbos, Pinpoint's President.
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, while providing Business Intelligence to the client.
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
Richmond Hill, Ontario with R&D and customer support operations
in Vancouver, BC. iSIGN is a business partner of AOpen America
Inc., having an OEM agreement for the embedding of its IMS software
in AOpen's digital media players and IBM, as their Solution
Provider, POS All Models. iSIGN's software solutions are also
distributed by BlueStar Inc. to their network of Value Added
Resellers. iSIGN is publicly traded in Toronto (TSX.V) under the
symbol "ISD". Additional information about iSIGN Media can be found
at www.isignmedia.com.
About Pinpoint Media Group Inc.
Pinpoint is the largest owner/operator of in-store digital media
in Canada. With a national footprint, Pinpoint reaches an average
of 1.7 million consumers a day through our convenience store
network, using state of the art technology to push relevant
content. Our Point-of-Sales Integration allows us to trigger ads
alongside the digital receipt on every transaction, delivering
truly relevant content when it matters most. Pinpoint is present in
1,400 convenience stores across Canada, with just over 5,600
digital faces. Our high impact product and services have been shown
in numerous case studies, whether point of sale, brand or
otherwise, to build sales and brand equity. Constantly expanding
and improving our networks, we have won the City of Calgary's parks
and recreation contract to deploy and manage its digital solution.
Having multiple channels allows us to get an accurate insight into
what moves the industry and where it is going. Additional
information about Pinpoint Media can be found at
www.pinpointmediagroup.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.
© 2011 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 Alex Romanov Chief Executive Officer (905)
780-6200, ext 1 alex@isignmedia.com www.isignmedia.com Pinpoint
Media Group Inc. Enmanuel Rumbos President (416) 262-9290
www.pinpointmediagroup.ca
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