iSIGN Media Announces the Close of a Warrant Bonus and a Shares for Debt Arrangement
TORONTO, Jan. 21, 2019 (GLOBE NEWSWIRE) — 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 it has received final approval form the necessary regulatory agency to close its previously announced warrant bonus agreement (“Bonus”) relating to the extension of the due date of a previously issued promissory note (“Note”) as well as a shares for debt (“Debt”) arrangement.
The Company has completed the Debt arrangement by issuing 500,000 common shares at a deemed price of $0.08 in settlement of a $40,000 debt. These shares are subject to a four-month hold period, ending May 22, 2019.
The Company has completed the Bonus arrangement by issuing 6,007,000 warrants with an exercise price of $0.10 in settlement for the extension of the due date on a Note held by Korona Group Ltd. The extended due date is now January 31, 2020. When exercised, each warrant will allow for the purchase of one common share of iSIGN. The warrant will have a term that matches the due date of the Note and cannot be extended.
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 Mtrex Network Solutions. www.isignmedia.com
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.
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iSIGN Media Solutions Inc.
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