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Share Name | Share Symbol | Market | Type |
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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 | |
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0.00 | 0.00% | 0.01 | 0.01 | 0.01 | 0 | 01:00:00 |
SelectCore Ltd. ("SelectCore") (TSX VENTURE:SCG) and iSIGN Media Solutions Inc. ("iSIGN" or "Company") (TSX VENTURE:ISD) are pleased to announce that they have signed a Letter of Intent ("LOI") to build-out the largest retail mobile proximity-advertising footprint in North America. Under the terms of the LOI, iSIGN and SelectCore are planning to embed iSIGN's patent-pending Interactive Marketing Solution ("IMS") 3.1 software and its newly developed Smart Antenna into SelectCore's Verifone Point of Sale ("POS") terminals in up to 7,000 convenience and grocery store locations throughout Canada and the United States. The length of the agreement will be three years, with an automatic renewal period of an additional three years. "This opportunity came to us from the announcement regarding the Couche-Tard/Mac's Convenience Stores network and installation," said Alex Romanov, iSIGN's Chief Executive Officer. "We believe that this is a tremendous opportunity for us to build-out a second advertising footprint, similar to the Couche-Tard model." Based upon previous test installations, iSIGN has the ability to reach an average of approximately 1,000 mobile devices within proximity of each of its installations. This reach would result in our Smart Antenna contacting approximately 7 million viewers daily. The size of our reach makes our mobile advertising method extremely cost efficient and effective to potential advertisers in comparison to television, radio, papers as well as more traditional direct marketing. As a result of the size of our reach, our expectation is that a full network roll-out has the potential to generate at least $10 million in revenue annually from advertising and Anonymous Mobile Analytics ("AMA") data per year. Of the $10 million in advertising revenue, SelectCore will retain 80% and iSIGN 20%. iSIGN expects, based upon its rate card, that licensing revenues for iSIGN's technology will have the potential to generate approximately $4.2 million annually. iSIGN's cost to build this network with iSIGN's newly developed Smart Antennas, will be approximately $1.050 million in capital expenditures. "The introduction of our new Smart Antenna combines cost efficiency with improved metric-gathering abilities from virtually all mobile devices," added Mr. Romanov. "This installation will provide our initial entry into the US market, in addition to expanding our national coverage in Canada, making the network very appealing to advertising agencies and national brands." "iSIGN's technology allows us to monetize and maximize the value of our retail point-of-sale network and access to a market of millions of consumers with mobile phones" commented Keith McKenzie, CEO of SelectCore. "Aligned with our growth strategy, this partnership has the potential to generate a new, high-margin revenue stream with virtually no capital expenditures". About SelectCore Established in 1999, SelectCore is a leading provider of transaction processing and point-of-sale solutions for the prepaid telecom market and prepaid financial services sector. From prepaid mobile top-up to stored-value cards and remittance solutions, SelectCore services a market of millions of under-banked and credit-challenged consumers through its technology platforms and retail distribution network across Canada and the United States. SelectCore is a publicly traded company listed on the TSX Venture Exchange under the symbol "SCG" (TSX VENTURE:SCG). SelectCore was ranked by Profit100 Magazine as one of Canada's fastest growing companies in 2006, 2007, 2009 and 2010. About iSIGN Media iSIGN is a leading developer of location-based interactive proximity advertising solutions that deliver rich media, permission based messages, free of charge to cell phones using Bluetooth(R) connectivity, while providing Business Intelligence to the client. 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 advertising than is possible via print, radio and television. iSIGN is based in Richmond Hill, Ontario with R&D and customer support operations in Vancouver, BC. iSIGN is a business partner of AOpen America Inc., having an OEM agreement for the embedding of its IMS software in AOpen's digital media players and IBM, as their Solution Provider, POS All Models. iSIGN's software solutions are also distributed by BlueStar Inc. to their network of Value Added Resellers. iSIGN is publicly traded in Toronto (TSX.V) under the symbol "ISD". Additional information about iSIGN Media can be found at www.isignmedia.com. This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks related to the regulatory approval process, market and financing conditions as well as risks associated with the prepaid telecom and prepaid financial industries, changes in project parameters as plans continue to be refined as well as those risk factors discussed in the Company's management's discussion and analysis for the Company's most recent financial reporting period, available on www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.
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