iSIGN Media Announces a Shares for Debt Transaction

Rhea-AI Summary

iSIGN Media Solutions Inc. (ISDSF) has announced a debt settlement arrangement totaling $110,000 with various individuals. The Company will issue 2.2 million Units at $0.05 each, where each Unit comprises one Common Share and one Warrant, granting the holder the right to purchase an additional Common Share at $0.075 for 24 months. This settlement aims to conserve cash for software development and operations. Approval from the TSX Venture Exchange is pending, and all securities will be subject to a four-month hold period.

Positive

• Debt settlement of $110,000 helps in cash conservation for operational purposes.
• Issuance of shares allows the Company to avoid cash depletion.

Negative

• Issuing new shares may dilute existing shareholder value.
• Approval from TSX Venture Exchange is still pending, introducing uncertainty.

TORONTO, Aug. 20, 2021 (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 announced it has entered into a debt settlement arrangement with various individuals in settlement of debts owned of $110,000.

Under the terms of the Offering the Company will issue 2.2 million Units at a price of $0.05 per Unit. Each Unit consists of one Common Share of the Company (each a “Common Share” and collectively, the “Common Shares”) and one common share purchase warrant (each warrant referred to herein as a “Warrant” and collectively, the “Warrants”). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.075 for a period of 24 months from the date of closing. All securities issued would be subject to a four month hold period. The Company agreed to satisfy this outstanding indebtedness with shares to preserve the Company’s cash for software development and 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 (Richmond Hill), 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. 2019 winner of Richmond Hill’s Innovator of the Year award. Partners include IBM, Keyser Retail Solutions, Baylor University, Verizon Wireless, TELUS and Mtrex Network Solutions. 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.

© 2021 iSIGN Media Solutions Inc. All Rights Reserved. All other trademarks and trade names are the property of their respective owners.

Company contacts:

Bruce Reilly
iSIGN Media Solutions Inc.
bruce@isignmedia.com

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.

FAQ

What is the recent debt settlement by iSIGN Media Solutions (ISDSF)?

iSIGN Media Solutions has entered into a debt settlement arrangement for $110,000, issuing 2.2 million Units at $0.05 each.

What does the issuance of Units mean for iSIGN Media Solutions (ISDSF)?

Each Unit consists of one Common Share and a Warrant, allowing purchase of additional shares at $0.075 for 24 months.

What are the risks associated with iSIGN Media Solutions' (ISDSF) debt settlement?

The settlement may dilute existing shareholder value, and approval from the TSX Venture Exchange is still pending.