iSIGN Media Announces the Close of its Previously Announced Private Placement of $400,000

Rhea-AI Summary

iSIGN Media Solutions has successfully closed a non-brokered private placement, raising $400,000. The company will issue 8 million Units at $0.05 each, with each Unit consisting of one Common Share and one warrant. Each warrant allows for the purchase of an additional Common Share at $0.075 for a period of 24 months. This financing aims to support iSIGN's ongoing operations and growth in the mobile marketing and public security alert sectors.

Positive

• Raised $400,000 through private placement.
• Issued 8 million Units at $0.05 each, enhancing capital.
• Warrants provide potential for additional capital at $0.075.

Negative

• Private placement may dilute existing shareholder equity.

TORONTO, June 03, 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 closed its previously announced non-brokered private placement (“Placement”) 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.

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 was the amount raised in iSIGN Media's recent private placement?

iSIGN Media raised $400,000 through a non-brokered private placement.

How many units were issued in the iSIGN Media private placement?

A total of 8 million Units were issued at a price of $0.05 each.

What is the exercise price of the warrants issued by iSIGN Media?

The warrants allow for the purchase of one Common Share at $0.075.

What is the duration of the warrants issued by iSIGN Media?

The warrants are valid for 24 months from the date of closing.

What potential impact does the private placement have on existing shareholders of ISDSF?

The private placement may dilute existing shareholder equity.