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iSign to build world's largest signage network in Mac's
2012-01-30 12:27 ET - News Release
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Ms. Belinda Rooney reports
ISIGN MEDIA AND MAC'S CONVENIENCE STORES SIGN NEW FIVE-YEAR SERVICE AGREEMENT
iSIGN Media Solutions Inc. has signed a virtual private advertising network services agreement with Mac's Convenience Stores Inc.
The signed agreement is effective Dec. 16, 2011, and is for a five-year term with an option for an additional five years. The agreement sets out the terms and conditions of the companies' mutual working relationship to maximize advertising on the network for the term of the agreement. The agreement allows for Mac's to acquire three million warrants to acquire three million iSIGN shares, at an exercise price of 50 cents with a five-year exercisable life. Additionally, Mac's has the option of acquiring up to 5 per cent of iSIGN's outstanding shares, subject to TSX cents Venture Exchange approval. Mac's parent company, Alimentation Couche-Tard Inc., has added to this agreement the option to add the existing 124 Circle K stores in Eastern Canada to the current Mac's network within the next 18 months or sooner.