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Share Name | Share Symbol | Market | Type |
---|---|---|---|
iSign Media Solutions Inc | TSXV:ISD | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.01 | 0.01 | 0.01 | 0 | 01:00:00 |
iSIGN Media Solutions Inc. (TSX VENTURE:ISD) ("iSIGN" or the "Company"), announced, on July 21, 2009, a $1.9 million non-brokered private placement. One of the planned investors was described as a "key industry strategic partner", and the Company is pleased to disclose that the investor is Wingroup Invest Ltd. ("Wingroup"), a Switzerland-based portfolio manager. Wingroup is a major investor in easyAd group AG ("easyAd"), a private German based company, that focuses on a global online ad platform, offering ad space and ad placement to small and medium sized enterprises (for more information on easyAd, please visit www.easyad.info). The easyAd technology is a self booking platform, that can identify web user's IP addresses and allows small and medium enterprises to target end users based on their proximity. easyAd's founder and key personnel, have a proven track record in the advertising technology space, including a previous sale of a company to America Online. Both Wingroup and easyAd anticipate a natural synergy with iSIGN, which utilizes Bluetooth(R) distribution technology to mobile devices and smart phones, capturing important data for retail customers. Pursuant to the Private Placement, Wingroup is subscribing for 6 million units of iSIGN at a subscription price of $0.25 per unit (each a "Unit"), with each unit consisting of one common share and one common share purchase warrant (each a "Warrant"), with each warrant entitling the holder thereof to acquire one additional common share of iSIGN at a price of $0.50 per common share for a period of 36 months. Assuming the completion of this private placement, Wingroup will hold approximately 14% of the issued and outstanding shares of iSIGN and will have Warrants to acquire an additional 6 million common shares. Additionally, Wingroup will also be granted the option (the "Option") to acquire 41% of the issued and outstanding shares of iSIGN at a minimum price of $0.45 and a maximum price of $0.55 per common share (depending on the market price of the Company's shares at the exercise date of the Option). The Option shall only be exercisable after the completion of the Private Placement and shall expire 5 months after the closing of the Private Placement. Assuming that Wingroup exercises the Option, it will hold 55% of the issued and outstanding common shares of iSIGN on a non-diluted basis. The term sheet related to the Private Placement also contemplates the possibility of a reverse takeover (the "RTO") of the Company by easyAd, which RTO would be subject to all applicable regulatory and shareholder approvals. Preliminary shareholder approval of the Private Placement has been obtained through written consents from a majority of the common shareholders of the company. The proceeds of the private placement will be used for further research and development, sales/marketing initiatives and working capital. This placement is subject to commissions of up to 10% cash and 10% warrants. About iSIGN Media iSIGN is a software developer of location-based interactive proximity solutions that deliver rich media, permission based messages, free of charge to cell phones using Bluetooth(R) connectivity. The Company's patent-pending advertising platform combines the precision of direct marketing and the tracking potential of the Web to deliver more cost effective and ROI-driven messages and advertising. iSIGN is based in Markham, Ontario with R&D and customer support operations in Vancouver, BC. iSIGN is publicly traded in Toronto (TSX.V) under the symbol "ISD". Additional information about iSIGN Media can be found at www.isignmedia.com. Forward-Looking Statements This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with iSIGN'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 the Company'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, including the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on October 9th, 2009 with the regulatory authorities. The Company 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. (C) 2010 iSIGN Media Solutions Inc. All Rights Reserved. All other trademarks and trade names are the property of their respective owners.
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