was this done or cancelled ???
iSign Media arranges $6.9-million private placement
2021-06-04 11:01 ET - News Release
An anonymous director reports
ISIGN MEDIA ANNOUNCES A PROPOSED PRIVATE PLACEMENT OF UP TO $6.9 MILLION
iSign Media Solutions Inc. intends to complete a non-brokered offering for aggregate gross proceeds of up to $6.9-million.
Under the terms of the offering the company will issue up to 138 million units at a price of five cents per unit. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of 7.5 cents for a period of 24 months from the date of closing. All securities issued would be subject to a four-month hold period.
As part of this offering, the company has signed a binding term sheet with Aaron Lyon Phillips, pursuant to which Mr. Phillips has agreed to subscribe for $6.4-million worth of units under the offering or approximately 128 million units. Assuming completion of the offering in full, Mr. Phillips would own approximately 45 per cent and 60 per cent of the issued and outstanding common shares of the company on a non-diluted and partially diluted basis, respectively.