TORONTO, June 28, 2018 /CNW/ - iSIGN Media Solutions Inc.
("iSIGN" or "Company") (TSX-V: ISD) (OTC: ISDSF), a leading
provider of interactive mobile advertising solutions that serves
brands, commercial locations, retailers and service providers
throughout North America today
announced it has entered into a shares for debt arrangement with
its Directors, officers and employees ("Parties"), in which the
Company has agreed to issue 6,860,420 common shares at a deemed
price of $0.10 per share in
settlement of debts totaling $686,042.
The Parties involved in this transaction agreed to a pricing
that is above current market pricing based on various projects that
are presently in process. The pricing reflects the Company's
and the Parties' expectations that the Company is moving towards
the completion of contracts and related revenues.
Included in these various projects is the Smart City proposal to
the City of Las Vegas, submitted
in mid-June and introductions and positive negotiations currently
being experienced with three Canadian cities related to Smart City
goals, involving both iSIGN's Security Alert Messaging ("SAM") and
Smart Antenna.
Under the requirements of the TSX-Venture Exchange, the Company
has solicited the approval of various shareholders not involved in
this transaction, who own in excess of 50% of the Company's issued
and outstanding shares. Approval for this transaction has been
received from all shareholders who were approached.
Satisfying this outstanding indebtedness with shares improves
the Company's Balance Sheet and conserves the Company's cash for
operational purposes.
This arrangement is subject to the approval of the TSX Venture
Exchange ("Exchange"). The Company will issue these shares,
which are subject to a four month hold period once approval has
been received from the Exchange.
About iSIGN Media
iSIGN, a Canadian company based in
Toronto, Ontario is a
data-focused, software-as-a-service (SaaS) company that is a
pioneering leader in the areas of location-based security alert
messaging and proximity marketing utilizing Bluetooth® and Wi-Fi
connectivity in complete privacy. Creators of the Smart suite
of products, a patented interactive proximity marketing technology,
iSIGN enables the delivery of messages to mobile devices in
proximity, with real-time reporting and analytics on a variety of
metrics. Partners include: IBM, Keyser Retail Solutions,
Baylor University, Verizon Wireless,
TELUS and AOpen America Inc. www.isignmedia.com
© 2018 iSIGN Media Solutions Inc. All Rights Reserved. All other
trademarks and trade names are the property of their respective
owners.
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 or accuracy of this
release.
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SOURCE iSIGN Media Solutions Inc.
