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.
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
For further information: Investor contacts: Alex Romanov, iSIGN Media, [email protected]