TORONTO, Jan. 30, 2012 /CNW/ - iSIGN Media Solutions Inc. ("iSIGN" or "Company" (TSX-V: ISD), a leading provider of interactive mobile advertising solutions that serves advertisers, manufacturers, retailers and advertising agencies throughout North America, today announced that they and Mac's Convenience Stores Inc. ("Mac's") have signed a Virtual Private Advertising Network Services Agreement ("VPAN").
The signed agreement is effective December 16, 2011 and is for a five (5) year term with an option for an additional five (5) years. The agreement sets out the terms and conditions of the companies' mutual working relationship to maximize advertising on the network for the term of the agreement. The agreement allows for Mac's to acquire three million warrants to acquire three million iSIGN shares, at an exercise price of $0.50 with a five-year exercisable life. Additionally, Mac's has the option of acquiring up to 5% of iSIGN's outstanding shares, subject to TSX – Venture Exchange approval. Mac's parent company, Alimentation Couche-Tard Inc., has added to this agreement the option to add the existing 124 Circle K stores in Eastern Canada to the current Mac's network within the next 18 months or sooner.
"We are pleased to have this agreement signed and in place," said Alex Romanov, iSIGN's Chief Executive Officer. "With the agreement now signed, we can fully expedite the launch of iSIGN's software and antennas throughout the Mac's chain and expand upon our metrics-gathering trials and testing with additional equipment."
"The signing of this agreement took longer than anticipated due to the addition of the Circle K stores in Eastern Canada," added Mr. Romanov. "However, we feel that the inclusion of those 124 stores more than outweighs the additional time it took to reach an agreement."
Once the installation of the software in the Mac's chain is complete, iSIGN will have the world's largest fully interactive digital signage network, reaching an average of 1.5 million consumers a day in Mac's stores, as well as the expanded reach generated by iSIGN's software and equipment to consumers in the vicinity of each store. The installation will deliver daily data on an unparalleled scale, providing highly detailed, technology-driven metrics that enable ad revenue targeting to improve ROI.
About iSIGN Media
iSIGN Media is a North American leader in multiplatform advertising solutions that utilize Bluetooth, Mobile, WiFi and Location-Aware technologies to deliver rich media, permission-based messages to engage consumers more deeply and cost-effectively. The resulting business intelligence and real time metrics, gathered through iSIGN's patent-pending advertising platform, deliver insights into emerging consumer behaviors that help advertisers measure their efforts and make better business decisions to increase ROI and customer loyalty. Headquartered in Richmond Hill, Ontario, with R&D and customer support operations in Vancouver, BC and Tampa, FL, the Company has also grown to become the largest owner/operator of in-store digital media in Canada with 5,600 digital signs in 1,400 locations. Partners include: AOpen America Inc. and IBM, with solution distribution by BlueStar Inc. iSIGN is publicly traded in Toronto (TSX.V) Additional information can be found at www.isignmedia.com.
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. 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.
© 2012 iSIGN Media Solutions Inc. All Rights Reserved. All other trademarks and trade names are the property of their respective owners.
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 or accuracy of this release.
SOURCE iSIGN Media Solutions Inc.
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CONTACT: Belinda Rooney of SSPR, +1-609-750-9110, [email protected]