20:45:26 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



iSign Media Solutions Inc
Symbol ISD
Shares Issued 118,329,372
Close 2018-09-14 C$ 0.08
Market Cap C$ 9,466,350
Recent Sedar Documents

iSign Media closes shares-for-debt arrangement

2018-09-14 11:21 ET - News Release

An anonymous director reports

ISIGN MEDIA ANNOUNCES THE CLOSE OF ITS PREVIOUSLY ANNOUNCED SHARES FOR DEBT AGREEMENT

iSign Media Solutions Inc. has received final approval from the necessary regulatory agency to close the previously announced shares-for-debt arrangement.

The company has completed the arrangement by issuing 1,527,435 common shares at a deemed price of eight cents per share. These shares are subject to a four-month hold period, which ends on Jan. 14, 2019.

The total amount of indebtedness settled by this arrangement is $122,195. The company agreed to satisfy this outstanding indebtedness with shares to preserve its cash for operational expenses.

The shares are being issued to Conservaco LLC, a digital marketing agency providing a full complement of services, including public relations, branding, video production, YouTube video programming, website development, search engine optimization, graphics design and social media creation, to clients globally.

Conservaco is a strategic partner with Rich Multimedia Technologies, managing and further developing the Rich Multimedia Technologies media network through multiple U.S. and international airports. These airports serve millions of passengers each year. Additionally, Conservaco has extensive client relations that represent outstanding opportunities to significantly grow the iSign digital media and communications customer base throughout the United States and internationally.

Mark Thimmig, chairman and chief executive officer of Conservaco, commented: "The iSign solution, backed by its leading-edge patented technology, is the right solution for our current times. There is a growing demand in the U.S. and internationally for personal safety in our schools, businesses, hotels and places of worship. We believe iSign can effectively and affordably address these needs, along with the commercial marketing benefits that it can also provide."

iSign is a mobile digital multimedia proximity and communications device. It is also a safety and security alert messaging system, which is a one-of-a-kind global solution that integrates with iSign's Smart Antennas, as well as with digital signage networks, enabling both commercial and public safety and security messaging. It is available as a software-as-a-service installation or a convenient downloadable mobile app.

About iSign Media Solutions Inc.

iSign Media Solutions, a Canadian company based in Toronto, Ont., is a data-focused, software-as-a-service company that is a pioneering leader in the areas of location-based security alert messaging and proximity marketing utilizing Bluetooth and Wi-Fi connectivity in complete privacy.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.