TORONTO, July 6, 2021 (GLOBE NEWSWIRE) – iSIGN Media Solutions Inc. (“iSIGN” or “Company”) (TSX-V: ISD) (OTC: ISDSF), a leading provider of interactive mobile proximity marketing and alerting Public Safety Solutions announced updates on its proposed private locations and other matters.
On June 11, 2021, the company announced its intentions to complete a private placement without intermediaries for aggregate gross proceeds of $ 450,000, priced at $ 0.05 per unit. The TSX Venture Exchange (“Exchange”) has not approved the price of this placement since the Company’s proposed private placement for $ 6.9 million had not been made public at the time iSIGN requested the price reservation for the placement of $ 450,000.
Additionally, iSIGN announces that the documentation required to allow the Company to close the $ 6.9 million placement previously announced on June 4, 2021, has not been received within a time frame that meets the requirements of the TSX-V Exchange (“Exchange” ). The required documentation is written confirmation that the funds are held in trust until the review of the Personal Information Form (“PIF”) is completed by the principal investor’s Exchange.
The company plans to reapply for the exchange again in the near future with prices based on the market price prevailing at the time of filing.
Finally, the Company has requested that Alex Romanov serve as interim CEO until the Company completes its hiring process for a permanent CEO, pending approval from the Exchange. Mr. Romanov has accepted the position of Executive Director on this basis.
About iSIGN Media
iSIGN, a Canadian company based in Toronto (Richmond Hill), Ontario, is a data-centric software-as-a-service (SaaS) company that is a pioneer leader in the areas of location-based security alert messaging and proximity marketing. using Bluetooth® and Wi-Fi connectivity with complete privacy. Creators of the Smart suite of products, a proprietary interactive proximity marketing technology, iSIGN enables message delivery to nearby mobile devices, with real-time reporting and analytics on a variety of metrics. Winner of the 2019 Richmond Hill Innovator of the Year award. Partners include IBM, Keyser Retail Solutions, Baylor University, Verizon Wireless, TELUS, and Mtrex Network Solutions. www.isignmedia.com
This press release may include certain forward-looking statements that are based on current expectations, involving risks and uncertainties associated with iSIGN Media’s business and the environment in which the business operates. Any statements contained in which are not statements of historical fact may be considered forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend” and similar expressions in the insofar as they relate to the company or its management. The forward-looking statements are not historical facts, but do 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 does not undertake any obligation to update the forward-looking statements or to update the reasons why actual results may differ from those reflected in the forward-looking statements.
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iSIGN Media Solutions Inc.
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