iSIGN Media Announces the Close of its Previously Announced Shares for Debt Transaction

Rhea-AI Summary

iSIGN Media Solutions Inc. (OTC: ISDSF) has received final regulatory approval for a $110,000 debt settlement arrangement. The company will issue 2.2 million Units, priced at $0.05 each, consisting of one Common Share and one Warrant, enabling the purchase of additional shares at $0.075 for 24 months. This decision aims to conserve cash for software development and operational purposes. The securities issued in this transaction are subject to a four-month hold period until December 28, 2021.

Positive

• Successful completion of a $110,000 debt settlement arrangement.
• Issuance of 2.2 million Units bolsters company equity structure.
• Cash conservation strategy for software development and operations.

Negative

• Issuing shares may dilute current shareholders' equity.

TORONTO, Aug. 27, 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 received final approval from the necessary regulatory agency to close its previously announced debt settlement arrangement (“Arrangement”) with various individuals for $110,000.

The Company has completed the Arrangement by issuing 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, ending December 28, 2021.  

The Company agreed to satisfy this outstanding indebtedness with shares to preserve the Company’s cash for software development and 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 debt settlement announcement by iSIGN Media (ISDSF)?

iSIGN Media has finalized a $110,000 debt settlement arrangement, issuing 2.2 million Units at $0.05 each.

What securities did iSIGN Media issue in the debt settlement arrangement?

The company issued 2.2 million Units, each consisting of one Common Share and one common share purchase Warrant.

What is the price for purchasing additional shares through Warrants issued by iSIGN Media?

The Warrants allow the holder to purchase additional shares at a price of $0.075 for 24 months.

Why did iSIGN Media choose to settle debt with shares?

iSIGN Media opted for a share-based settlement to preserve cash for software development and operational expenses.

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

The issued securities are subject to a four-month hold period, ending on December 28, 2021.