TORONTO, April 22, 2016 /CNW/ - iSIGN Media Solutions Inc.
("iSIGN" or "Company") (TSX-V: ISD) (OTC: ISDSF), a leading
provider of interactive mobile proximity advertising solutions
today advises of an extension to the closing date of the brokered
private placement("Placement") financing agreement with Mackie
Research Capital Corporation ("Mackie") for $3.5 million.
Closing of this Placement has been extended to on or about the
week of May 26, 2016 from the previously announced date of on
or about the week of April 25,
2016.
The extension of the closing date reflects a delay in the
signing of legal and other documents related to the acquisition of
new technologies that is to be completed once the Placement is
closed. It is also designed to provide Mackie with additional
time to close the Placement.
This Placement will take the form of a consist of the sale of
units ("Units"), each unit consisting of: (a) one 10% secured
subordinated Debenture with a principal amount of $1,000; and (b) 1,333 warrants. Each
warrant entitles the holder to acquire one common share at an
exercise price of $0.30 for a period
of 36 months following the closing of this Placement.
Each debenture will be convertible into common shares at the
option of the holder at a price of $0.20 per share.
Mackie will be granted an option ("Agent's Options") exercisable
at any time up to and including the closing of this Placement to
increase the size of the Placement by up to 15% in Units by
providing iSIGN with written notice within 48 hours prior to the
closing.
Use of funds will be to complete and acquire new technologies
and drive sales.
About iSIGN Media
iSIGN Media, based in Toronto, is a data-focused,
software-as-a-service (SaaS) company that is a pioneering leader in
gathering point-of-sale data and mobile shopper preferences to
generate actionable data and reveal valuable consumer insights.
Creators of the Smart Suite of products, a patented
interactive proximity marketing technology, iSIGN enables brands to
deliver targeted messaging, personalized offers and loyalty perks
to consumers' mobile devices in proximity and with real-time proof
of redemption. iSIGN's data gathering capabilities provide
analytics on price points, typical purchases, in-store dwell time
and other shopper metrics that identify emerging consumer
behaviors. These insights enable smarter business decisions
and provide increased ROI metrics for more transparent marketing.
iSIGN delivers relevant, timely messages on an opt-in basis
at no charge to consumers, transmitting rich media to consumer
mobile devices via Bluetooth® and WiFi connectivity in complete
privacy as opposed to iBeacons, apps, downloads and the required
surrendering of personal information. Proven to increase
brand engagement and customer loyalty, iSIGN generates
preference-based, predictive "clean data" without compromising
consumer privacy. Partners include: IBM, Keyser Retail
Solutions, Baylor University, Verizon
Wireless, TELUS and AOpen America Inc. www.isignmedia.com
© 2016 iSIGN Media Solutions Inc. All Rights Reserved.
All other trademarks and trade names are the property of
their respective owners.
Forward-Looking Statements
This press release contains
forward-looking statements. More particularly, this press release
contains statements which include the timing of closing the
offering, the anticipated use of proceeds and the receipt of the
required approvals. The forward-looking statements are based
on certain expectations and assumptions made by the Company.
Although the Company believes that those expectations and
assumptions are reasonable, undue reliance should not be placed on
the forward-looking statements because the Company can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual
results could differ materially from those anticipated due to a
number of factors and risks. In addition to other risks, the
closing of the offering could be delayed if the Company is not able
to obtain necessary approvals when planned and the offering will
not be completed at all if approvals are not obtained or some other
condition to the closing is not satisfied. Accordingly, there is a
risk that the offering will not be completed within the anticipated
time or at all. The intended use of the net proceeds of the
offering by the Company might change if the Company determines that
it would be in the best interests of the Company to use the
proceeds for some other purpose. The forward-looking
statements contained in this press release are made as of the date
hereof. The Company disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as required
under applicable securities laws.
Neither the 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.
SOURCE iSIGN Media Corp