Initial Manufacture of First 5,000 Integrated Tele-Digital Store Front Kiosks on Schedule
TORONTO, Jan. 27, 2016 /CNW/ - iSIGN Media Solutions Inc. ("iSIGN" or "Company") (TSX-V: ISD) (OTC: ISDSF), a leading provider of interactive mobile proximity advertising solutions is pleased to provide an update on the progress of the integration of its Smart Antennas into Rich Multimedia Technologies Inc.'s ("RMT") Tele-Digital Store Front Kiosks ("Kiosks").
The Licensing and Original Equipment Manufacturer Agreement ("Agreement") was signed October 27, 2015. At the time, we announced that the target date for the manufacturer to start integrating our Smart Antenna into RMT's Kiosks was the end of November 2015. Under the terms of this agreement, iSIGN was to review and approve the integration, as well as any changes to the Smart Antenna build.
By November 24, 2015, we had supplied Smart Antenna units, as well as the schematics for the unit to the manufacturer, which allowed them to complete the design of a fully integrated Kiosk and to commence the required testing.
By the end of December 2015, the manufacturer had submitted, sourced and received our approval for the purchase of upgraded Smart Antenna component parts. At this point, the manufacturer was in the process of preparing pilot units as models for the production run.
Samples of the pilot units have now been completed and shipped to our office by the manufacturer, meeting the forecasted January end deadline to have final samples and production units ready for our review and approval.
"We are pleased that the progress to date has been smooth, efficient and timely," stated Mr. Alex Romanov, iSIGN's Chief Executive Officer.
RMT will deploy 5,000 Kiosks in Mexico City's international airport, transit system and government facilities. Additionally, RMT plans to roll out 3,600 Kiosks in multiple major international airports in the US and Canada by the end of 2016.
Under the terms of the Agreement, the licensing fee will be based upon the number of Kiosks built during the term of this Agreement and any renewal periods, starting with an initial build of 5,000 Kiosks. In addition to the licensing fee, iSIGN will receive a data management fee based on installation and activation of the licensed Kiosks. The combined licensing and data management fees will generate revenues to iSIGN of $3 US per day per Kiosk
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 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
About Rich Multimedia Technologies
Rich Multimedia Technologies and its executive team has a 25 year plus proven track record in the telecommunications; advertising; in-airport media and retail travel business. With our partners we represent the leading international brands' and In-airport retail concessionaires. We are committed to working in close partnerships with brands, airport operators and suppliers to bring the mobile traveller on-the-go an unrivalled shopping choice and experience. We are relentless in our search for new concepts that will help develop existing and new markets. www.richmediatechnologies.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 or accuracy of this release.
SOURCE iSIGN Media Solutions Inc.
Image with caption: "Tele-Digital Store Front Kiosks (CNW Group/iSIGN Media Solutions Inc.)". Image available at: http://photos.newswire.ca/images/download/20160127_C3408_PHOTO_EN_607492.jpg