TORONTO, Sept. 7, 2018 /CNW/ - iSIGN Media Solutions Inc.
("iSIGN" or "Company") (TSX-V: ISD) (OTC: ISDSF), a leading
provider of interactive mobile proximity marketing and public
security alert solutions today announced that its planned financing
by way of secured convertible promissory notes (the "Notes"), will
be for an aggregate gross proceeds of up to $500,000, an increase of $75,000 from yesterday's announcement.
The additional investors came to us yesterday evening after our
release of the news of the successful pilot with the Chilean mining
company.
The Notes will have a term of one year and will accrue interest
at a rate of 10% per annum, payable upon maturity.
The principal amount can, at the option of each individual Note
holder, be converted into units of the Company (the "Units") at a
price equal to $0.08 per Unit.
Each Unit shall be comprised of one common share of the Company (a
"Unit Share") and one common share purchase warrant (a
"Warrant"). Each Warrant shall be exercisable to acquire one
common share of the Company (a "Warrant Share") for a period of two
years following the date of issuance of the Warrant at an exercise
price of $0.12 per Warrant
Share. The Unit Shares and Warrants (and, if applicable, the
Warrant Shares) will be subject to a minimum hold period of 4
months from the date of issue of the Notes.
The Company anticipates closing the Notes as soon as
practicable, subject to receipt of all necessary regulatory
approvals, including the approval of the TSX Venture
Exchange. The proceeds from the Notes will be used for
general working capital.
The securities described herein have not been and will not be
registered under the U.S. Securities Act of 1933, as
amended, or any state securities laws and may not be offered or
sold in the United States absent
registration or an applicable exemption from those registration
requirements. This press release does not constitute an offer
to sell or the solicitation of an offer to buy any securities nor
shall there by any sale of the securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
The Company would also like to announce the receipt of
$425,000 from the original
participants in this financing.
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
Forward-Looking Statements
This news release may
include 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. 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.
© 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 for the accuracy of this
release.
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SOURCE iSIGN Media Solutions Inc.