iSIGN Media Solutions Inc.
TSX VENTURE : ISD

iSIGN Media Solutions Inc.

January 15, 2010 07:30 ET

iSIGN Media Solutions Inc. Announces the Closing of the Non-Brokered Private Placement of $1,500,000 Previously Announced on December 2, 2009

TORONTO, ONTARIO--(Marketwire - Jan. 15, 2010) - iSIGN Media Solutions Inc. (TSX VENTURE:ISD) ("Corporation"), is pleased to announce that it has closed the non-brokered private placement with Tesar Inc. ("Tesar") that was previously announced on December 2, 2009 and updated on December 11, 2009.

iSIGN has completed the placement by issuing 5,000,000 common share units ("Units") at a price of $0.30 per Unit for aggregate gross proceeds of $1.5 million. Each Unit consists of one common share ("Common Share") in the capital of iSIGN and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.45 per share until January 14, 2012. All securities issued are subject to a four-month hold period.

The issue proceeds will be used to fund the completion of a back-end reporting system, acquisition of its IMS units and general working capital.

In connection with the closing of the private placement, a cash commission of $150,000 has been paid.

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.

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.

Contact Information

  • iSIGN Media Solutions Inc.
    Alex Romanov
    Chief Executive Officer
    (905) 530-2481
    alex@isignmedia.com