TORONTO, March 30, 2016 /CNW/ - iSIGN Media Solutions
Inc. ("iSIGN" or "Company") (TSX-V: ISD) (OTC: ISDSF), a leading
provider of interactive mobile proximity advertising solutions
announced that its Board of Directors has unanimously agreed to the
brokered private placement ("Placement") financing agreement with
Mackie Research Capital Corporation ("Mackie") for $3.5 million.
This Placement will take the form of a convertible debenture
("Debenture") of up to $3.5 million
in convertible debenture units ("Units"), which will consist of :
(a) one 10% secured subordinated Debenture with a principal amount
of $1,000; and (b) 1,333
warrants. Each warrant entitles the holder to acquire one
common share at an exercise price of $0.30 for a period of 36 months following the
closing of this Placement. Closing of this Placement is on or
about the week of April 25, 2016.
Each debenture will be convertible into common shares at the
option of the holder at a price of $0.20 per share.
Mackie will be granted an option ("Agent's Options") exercisable
at any time up to and including the closing of this Placement to
increase the size of the Placement by up to 15% in Units by
providing iSIGN with written notice within 48 hours prior to the
closing.
Use of funds will be to complete and acquire new technologies
and drive sales.
About iSIGN Media
iSIGN Media, based in Toronto, is a data-focused,
software-as-a-service (SaaS) company that is a pioneering leader in
gathering point-of-sale data and mobile shopper preferences to
generate actionable data and reveal valuable consumer insights.
Creators of the Smart Suite of products, a patented
interactive proximity marketing technology, iSIGN enables brands to
deliver targeted messaging, personalized offers and loyalty perks
to consumers' mobile devices in proximity and with real-time proof
of redemption. iSIGN's data gathering capabilities provide
analytics on price points, typical purchases, in-store dwell time
and other shopper metrics that identify emerging consumer
behaviors. These insights enable smarter business decisions
and provide increased ROI metrics for more transparent marketing.
iSIGN delivers relevant, timely messages on an opt-in basis
at no charge to consumers, transmitting rich media to consumer
mobile devices via Bluetooth® and WiFi connectivity in complete
privacy as opposed to iBeacons, apps, downloads and the required
surrendering of personal information. Proven to increase
brand engagement and customer loyalty, iSIGN generates
preference-based, predictive "clean data" without compromising
consumer privacy. Partners include: IBM, Keyser Retail
Solutions, Baylor University, Verizon
Wireless, TELUS and AOpen America Inc. www.isignmedia.com
© 2016 iSIGN Media Solutions Inc. All Rights Reserved.
All other trademarks and trade names are the property of
their respective owners.
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.
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 adequacy or
accuracy of this release.
SOURCE iSIGN Media Corp