iSIGN Media Solutions Inc.

iSIGN Media Solutions Inc.

September 08, 2014 18:30 ET

iSIGN Media Announces That It Will Not be Proceeding with the Acquisition POS Canada

TORONTO, ONTARIO--(Marketwired - Sept. 8, 2014) - iSIGN Media Solutions Inc. ("iSIGN" or "Company") (TSX VENTURE:ISD) (OTCQX:ISDSF), a leading provider of interactive mobile advertising solutions that serves advertisers, manufacturers, retailers and advertising agencies throughout North America, today announced that it will not be proceeding with the proposed acquisition POS Canada Inc. ("POS") announced in the Company's Press Releases on May 28 and 29, 2014.

The acquisition, as announced, was to have been a straight exchange of iSIGN shares for all the outstanding shares of POS and would not result in either a change of control (an issuance resulting in excess of greater than 20% of the resulting outstanding number of shares), or a reverse takeover.

Despite both companies' stated desire to complete the transaction, ultimately the Parties were unable to agree upon the number of iSIGN common shares that would be issued to acquire POS without unduly diluting the stock relative to the current book value of the assets being acquired. There were, in addition, other operational, economic and funding conditions affecting the financial viability of the acquisition that were not satisfactorily settled.

"We are disappointed that the negotiations went on for so long and that ultimately we were unable to come to terms on this acquisition," stated Mr. Alex Romanov, iSIGN's Chief Executive Officer. "Acquiring POS would have been mutually beneficial for both of us. Unfortunately, the decrease in our share price at the start of last week did not help us in regards to moving forward with the acquisition."

iSIGN remains firmly committed to its efforts to finalize and provide marketers, brands and retailers with the world's first integration of mobile data with point-of-sale data, whether it is with POS as a reseller and/or one of iSIGN's other ongoing point-of-sale initiatives at a more manageable cost.

About iSIGN Media

Since 2007, iSIGN has been developing multiplatform advertising and marketing solutions for brands to better attract, engage and retain customers through their mobile devices. The data and SaaS (software as a service) company collects and analyzes shopper preferences so that brands can deliver targeted messaging and personalized offers to consumers' mobile devices, in-location and in real-time. The company's interactive proximity-marketing technology is capable of gathering average price points, typical purchases, in-store dwell times and other shopper metrics to deliver business intelligence and insights into emerging consumer behaviors that can help brands make better business decisions and measure their marketing efforts. Utilizing Bluetooth™ and Wi-Fi, and location-aware technologies to deliver relevant and timely messaging to any screen or mobile device, iSIGN delivers rich media, permission-based messages free to consumers that can drive immediate brand engagement, increased customer loyalty and deliver higher ROI on marketing dollars spent. Headquartered in Richmond Hill, Ontario, with R&D and customer support operations in Vancouver, BC and Tampa, FL, the Company has also grown to become the largest owner/operator of in-store digital media in Canada with 5,600 digital signs in about 1,400 locations. Partners include: IBM, Keyser Retail Solutions, Baylor University, Verizon Wireless, TELUS and AOpen America Inc., with solution distribution by GraphicMedia, Inc.

Forward-Looking Statements

This news release may include 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. 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.

© 2014 iSIGN Media Solutions Inc. All Rights Reserved. All other trademarks and trade names are the property of their respective owners.

Neither the TSX Venture Exchange nor Its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility or accuracy of this release.

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