Shares for debtAt this rate we are going to have more pp's on the go than Wrigley's has gum ! LOL.
Good to get debt off the books but I thought that was what the first announced 6.9 ml pp, that is now delayed, was intended to do for all outstanding debt. All said, progress being made. GLTAL.
iSIGN Media Announces a Shares for Debt Transaction
August 20, 2021
Toronto, Ontario - August 20, 2021 -- iSIGN Media Solutions Inc. (“iSIGN” or “Company”) (TSX-V: ISD) (OTC: ISDSF), a leading provider of interactive mobile proximity marketing and public security alert solutions announced it has entered into a debt settlement arrangement with various individuals in settlement of debts owned of $110,000.
Under the terms of the Offering the Company will issue 2.2 million Units at a price of $0.05 per Unit. Each Unit consists of one Common Share of the Company (each a “Common Share” and collectively, the “Common Shares”) and one common share purchase warrant (each warrant referred to herein as a “Warrant” and collectively, the “Warrants”). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.075 for a period of 24 months from the date of closing. All securities issued would be subject to a four month hold period. The Company agreed to satisfy this outstanding indebtedness with shares to preserve the Company’s cash for software development and operational purposes.
This arrangement is subject to the approval of the TSX Venture Exchange (“Exchange”). The Company will issue these shares, which are subject to a four month hold period, once approval has been received from the Exchange