iSIGN Media Solutions Inc.
TSX VENTURE : ISD

iSIGN Media Solutions Inc.

February 24, 2010 08:24 ET

iSIGN Media Solutions Inc. Announces the Closing of the Previously Announced Non-Brokered Private Placement for $200,000

TORONTO, ONTARIO--(Marketwire - Feb. 24, 2010) - iSIGN Media Solutions Inc. ("iSIGN" or "Company") (TSX VENTURE:ISD), is pleased to announce that it has closed the non-brokered private placement that was previously announced on February 16, 2010, subject to final TSX Venture Exchange acceptance.

iSIGN has completed the placement by issuing 800,000 common share units ("Units") at a price of $0.25 per Unit for aggregate gross proceeds of $200,000. 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 $0.50 per share until February 19, 2013. All securities are subject to a four-month hold period. 

The proceeds will be used by the Company to increase its sales and marketing initiatives.

In connection with the closing of the private placement, a cash commission of $19,425 has been paid and 77,700 common share compensation units have been issued at a price of $0.25 per unit to arm's length parties. 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 $0.50 per share until February 19, 2012. 

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 connectivity. 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 Markham, Ontario with R&D and customer support operations in Vancouver, BC. iSIGN 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's 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 Company or its management. The forward-looking statements are not historical facts, but 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, including the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on October 9th, 2009 with the regulatory authorities. iSIGN Media 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.

© 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