Josip Kozar files initial early warning report
TORONTO, Dec. 4, 2013 /CNW/ - Josip Kozar (the "Offeror"), acquired 8,200,000 units (the "Units") of iSign Media Solutions Inc. (the "Issuer") pursuant to a private placement. Each Unit consisted of one common share ("Common Share") and one Common Share purchase warrant ("Warrant"). The 8,200,000 Common Shares that formed part of the Units represented approximately 12.0% of the issued and outstanding Common Shares on a non-diluted basis (based upon the 68,138,686 common shares stated to be issued and outstanding as of November 7, 2013 by the Issuer).
After giving effect to the acquisition, the Offeror owns or has control or direction over an aggregate of (i) 8,402,000 Common Shares of the Issuer, representing approximately 12.3% of the issued and outstanding Common Shares (on a non-diluted basis) and (ii) 8,200,000 Warrants. Such Warrants are convertible into 8,200,000 Common Shares at a price of $0.455 per Warrant for a period of 24 months from November 7, 2013. Assuming full conversion of the Warrants, the Offeror would directly or indirectly exercise direction and control over an aggregate of 16,602,000 Common Shares, representing approximately 24.4% of the then issued and outstanding Shares (on a partially-diluted basis).
The Common Shares were acquired, without any joint actors, for investment purposes and the Offeror may increase or decrease its investment in the Issuer depending on market conditions or any other relevant factors.
SOURCE iSign Media Solutions Inc.