iSIGN Announces $7.5 Million WOW!!!!!!!!!!!!!!!!!!!!!!!!!!!! iSIGN Media is a world leader in multiplatform advertising solutions that utilize Bluetooth, Mobile, WiFi and Location-Aware technologies to deliver rich media, permission-based messages to engage consumers more deeply and cost-effectively. The resulting business intelligence and real time metrics, gathered through iSIGN's patent-pending advertising platform, deliver insights into emerging consumer behaviors that help advertisers measure their efforts and make better business decisions to increase ROI and customer loyalty. 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 1,400 locations. Partners include: IBM and AOpen America Inc., with solution distribution by GraphicMedia, Inc. and BlueStar Inc.
Toronto, Ontario - May 7, 2013 - iSIGN Media Solutions Inc. ("iSIGN" or "Company") (TSX-V: ISD) (OTCQX: ISDSF), a leading provider of interactive mobile advertising solutions that serves advertisers, manufacturers, retailers and advertising agencies throughout North America, is pleased to announce that it has now received subscriptions for a total of $7.5 million in units ("Units") of the Corporation, subject to the approval of the TSX Venture Exchange.
As previously announced, each Unit will consist of one common share at $0.30 ("Unit Share") and one common share purchase warrant ("Warrant") of the Corporation. 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.
The funds from these strategic and private placements will be used for the manufacturing of the Company's Smart Antennas and Smart Digital Players to fulfill existing and anticipated purchase orders coming from the United States, Europe and Asia, as well as for general operating funds.
"We are in the process of finalizing the additional subscriptions for the targeted $9 million raise," added Alex Romanov, iSIGN's Chief Executive Officer. "This is the first time in our history that we have been involved in a raise of this size, with all investments coming from new investors. We are encouraged to see that most of this raise is coming to us from investors in the United States."
"Additionally, we are excited that we have been receiving unsolicited requests from investors to participate in this non-brokered raise," added Mr. Romanov. "It encourages us in that we are seeing this as a growing awareness of our technology and future success
In addition, iSIGN is pleased to announce that it has had inquiries about entering into a agreement to install units into a major European chain of gas stations