iSIGN Media Announces Receipt of Final Tranche of $200,000 Related to its Previously Announced Private Placement of $400,000

Rhea-AI Summary

iSIGN Media Solutions Inc. (TSX-V: ISD, OTC: ISDSF) has successfully completed a non-brokered offering, raising a total of $400,000 by issuing 8 million Units at $0.05 each. Each Unit includes one Common Share and one Warrant, allowing the purchase of additional shares at $0.075 over 24 months. The funds will primarily support operational initiatives. The company is currently awaiting approval from the TSX Venture Exchange to finalize the placement, with all issued securities subject to a four-month hold period.

Positive

• Successfully raised $400,000 through a non-brokered offering.
• Funds are designated for operational purposes.
• Each Unit includes a warrant, enhancing future capital raising potential.

Negative

• None.

TORONTO, June 02, 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 that it has received the final tranche of $200,000 towards the completion of its previously announced non-brokered offering (“Offering”) for aggregate gross proceeds of $400,000.

Under the terms of the Offering the Company will issue 8 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 advises that it has now received the full amount of the $400,000 placement and is awaiting approval from the TSX Venture Exchange in order to close the placement.

The Company will issue these shares, which are subject to a four month hold period once approval has been received from the Exchange. The proceeds of the Placement will be for operational purposes.

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 fund raising announcement by iSIGN Media (ISDSF)?

iSIGN Media announced the completion of a non-brokered offering, raising a total of $400,000 through the issuance of 8 million Units.

What are the terms of the offering by iSIGN Media (ISDSF)?

iSIGN will issue each Unit at $0.05, which includes one Common Share and one Warrant, allowing the purchase of additional shares at $0.075 for 24 months.

How will iSIGN Media (ISDSF) use the proceeds from the offering?

The proceeds from the offering will be utilized for operational purposes.

When will iSIGN Media (ISDSF) finalize the placement of the offering?

iSIGN Media is awaiting approval from the TSX Venture Exchange to close the placement.

What is the hold period for the securities issued by iSIGN Media (ISDSF)?

All securities issued are subject to a four-month hold period after the placement closes.