TORONTO, Sept. 14, 2018 /CNW/ - iSIGN Media Solutions Inc. ("iSIGN" or "Company") (TSX-V: ISD) (OTC: ISDSF), a leading provider of interactive mobile messaging solutions for commercial and security purposes announces that it has received final approval from the necessary regulatory agency to close the previously announced shares for debt arrangement ("Arrangement").
The Company has completed the Arrangement by issuing 1,527,435 common shares ("Shares") at a deemed price of $0.08 per share. These shares are subject to a four-month hold period, ending January 14, 2018.
The total amount of indebtedness settled by this Arrangement is $122,195. The Company agreed to satisfy this outstanding indebtedness with shares to perverse its cash for operational expenses.
The shares are being issued to Conservaco, LLC ("Conservaco"), a digital marketing agency providing a full complement of services including, public relations, branding, video production, YouTube video programming, website development, SEO, graphics design, social media creation to clients globally.
Conservaco (www.conservaco.com) is a strategic partner with Rich Multimedia Technologies ("RMT") managing and further developing the RMT media network through multiple U.S. and international airports. These airports serve millions of passengers each year. Additionally, Conservaco has extensive client relations who represent outstanding opportunities to significantly grow the iSIGN Digital Media and communications customer base throughout the U.S. and internationally.
Mark F. Thimmig, Chairman and CEO of Conservaco, stated, "the iSIGN solution backed by its leading-edge patented technology is the right solution for our current times. There is a growing demand in the US and internationally for personal safety in our schools, businesses, hotels, and places of worship. We believe iSIGN can effectively and affordably address these needs along with the commercial marketing benefits that it can also provide."
ISIGN is a mobile digital multi-media proximity and communications device. It is also a safety and Security Alert Messaging system ("SAM"), which is a one-of-a-kind global solution that integrates with iSIGN's Smart Antennas as well as with digital signage networks, enabling both commercial and public safety and security messaging. It is available as a Software-as-a-Service ("SaaS") installation or a convenient downloadable mobile app.
About iSIGN Media
iSIGN, a Canadian company based in Toronto, 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. Partners include: IBM, Keyser Retail Solutions, Baylor University, Verizon Wireless, TELUS and AOpen America Inc. www.isignmedia.com
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.
© 2018 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.
For further information: Company contacts: Alex Romanov, iSIGN Media Solutions Inc., [email protected]