iSIGN Media Solutions Inc. Updates Its Non-Brokered Private Placement of Up to $1,900,000
07 August 2010 - 2:43AM
Marketwired
iSIGN Media Solutions Inc. (TSX VENTURE: ISD) ("iSIGN" or the
"Company") would like to announce that, further to its press
releases dated July 21 and 26, 2010, the closing date for the
proposed private placement of up to $1.9 million in units has been
amended from August 4, 2010 to August 18, 2010 or such other date
as the Company may determine.
In addition, the Company would like to clarify information in
its press release dated July 26, 2010. As previously reported,
Wingroup Invest AG ("Wingroup") has been granted an option to
acquire an additional 41% of the issued and outstanding common
shares of the Company. The option, if exercised by Wingroup, will
be exercised by way of a private placement and through the issuance
of such number of common shares from the Company's treasury such
that Wingroup will own, in the aggregate, 55% of the issued and
outstanding common shares of the Company after the completion of
the private placement. Wingroup may exercise its option by way of a
share exchange with easyAd group AG ("easyAd") whereby the Company
will acquire an ownership interest in easyAd in exchange for the
issuance of the shares pursuant to the exercise of the option to
easyAd. For additional information on easyAd, investors are
encouraged to review the Company's press release of July 26,
2010.
The issuance of the common shares pursuant to the exercise of
the option will be subject to a number of conditions, including,
but not limited to: (i) the receipt of all requisite approvals from
the directors of the Company and Wingroup, (ii) the receipt of
shareholder approval from the majority of the shareholders
excluding Wingroup' (iii) the receipt of all requisite regulatory
approvals including the TSX Venture Exchange, and (iv) ensuring the
terms of the private placement are compliant with all of the terms
of the policies of the TSX Venture Exchange.
For complete details of the private placement and the option,
investors are encouraged to review the press releases dated July 21
and 26, 2010.
About iSIGN Media
iSIGN is a software developer of location-based interactive
proximity solutions that deliver rich media, permission based
messages, free of charge to cell phones using Bluetooth®
connectivity. The Company's patent-pending advertising platform
combines the precision of direct marketing and the tracking
potential of the Web to deliver more cost effective and ROI-driven
messages and advertising. iSIGN is based in Markham, Ontario with
R&D and customer support operations in Vancouver, BC. iSIGN is
publicly traded in Toronto (TSX.V) under the symbol "ISD".
Additional information about iSIGN Media can be found at
www.isignmedia.com.
Forward-Looking Statements
This news release includes 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, including the matters discussed under "Risks
and Uncertainties" in the Filing Statement filed on October 9th,
2009 with the regulatory authorities. 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.
© 2010 iSIGN Media Solutions Inc. All Rights Reserved. All other
trademarks and trade names are the property of their respective
owners.
Neither 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 adequacy or
accuracy of this release.
Contacts: iSIGN Media Alex Romanov Chief Executive Officer (905)
780-6200, ext. 1 alex@isignmedia.com www.isignmedia.com
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