iSign Media Solutions Inc. announces a non-brokered private placement of $1,500,000 to advance its Business Intelligence Proximity Marketing Technology
Press Release
Source: iSign Media Corp.
On 7:30 am EST, Wednesday December 2, 2009
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TORONTO, Dec. 2 /CNW/ - iSign Media Solutions Inc. (TSX-V: ISD - News; "Corporation"), is pleased to announce a non-brokered private placement of $1,500,000 in units ("Units") of the Corporation (the "Offering").
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Symbol Price Change
ISD.V 0.33 +0.03
{"s" : "isd.v","k" : "c10,l10,p20,t10","o" : "","j" : ""} Each Unit will consist of one common share at $0.30 and one common share purchase warrant of the Corporation (each, a "Warrant"). Each Warrant will be exercisable into one additional common share of the Corporation for a period of 24 months from the date of issuance at an exercise price of $0.45 per common share.
Additionally, the Corporation has signed an engagement letter with MGI Securities, for a best efforts brokered deal of up to $1,500,000, under the same terms as the non-brokered agreement.
The non-brokered placement is expected to close on or before December 8, 2009 and the brokered placement is expected to close on or before December 22, 2009.
The issue proceeds will be used to fund the completion of a back-end reporting system that will enable the Corporation to further its installations into the GOME Electrical Appliances Holdings Ltd and Best Denki stores in Asia, as well as commence our drive for North American business.
About the Company:
iSign Media Solutions Inc. ("iSign") is a leading developer of in-store interactive proximity advertising solutions that deliver rich media, permission based messages, free of charge to cell phones using Bluetooth connectivity. The Corporation'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 Markham, Ontario with R&D and customer support operations in Vancouver, BC. The Corporation is publicly traded in Toronto (TSX.V) under the symbol "ISD". Additional information about iSign Media can be found at www.isignmedia.com.
About MGI:
MGI Securities Inc. is a boutique investment bank that offers corporate finance advisory services. It provides merger and acquisitions, equity underwriting, corporate restructuring, structure financing, market research, and business valuation services. Additionally, it offers fixed income and equity securities advisory services. MGI Securities Inc., formerly known as McFarlane Gordon, Inc., was founded in 1999 and is based in Toronto, Canada with additional offices in Calgary and Winnipeg, Canada. The firm operates as a subsidiary of Jovian Capital Corp. (JOV:TSX).
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 Media Solutions' 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 Corporation or its management. The forward-looking statements are not historical facts, but reflect iSIGN Media Solutions' 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. iSIGN Media Solutions 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) 2009 iSIGN Media Solutions Inc. All Rights Reserved. All other
trademarks and trade names are the property of their respective owners.
Neither 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.
For further information
Alex Romanov, Chief Executive Officer, iSign Media Solutions Inc., (905) 530-2481, alex@isignmedia.com
John A. McMahon, Investment Banker, MGI Securities, (416) 777-5178, jmcmahon@mgisecurities.com
