TORONTO, march. 30, 2022 /CNW/ - iSIGN Media Solutions Inc. ("iSIGN" or "Company" (TSX-V: ISD), a leading provider of interactive mobile advertising solutions that serves advertisers, manufacturers, retailers and advertising agencies throughout North America, today announced that they and Mac's Convenience Stores Inc. ("Mac's") have signed a Virtual Private Advertising Network Services Agreement ("VPAN").
The signed agreement is effective December 16, 2021 and is for a five (5) year term with an option for an additional five (5) 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 $0.50 with a five-year exercisable life. Additionally, Mac's has the option of acquiring up to 5% of iSIGN's outstanding shares, subject to TSX – 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.
"We are pleased to have this agreement signed and in place," said Alex Romanov, iSIGN's Chief Executive Officer. "With the agreement now signed, we can fully expedite the launch of iSIGN's software and antennas throughout the Mac's chain and expand upon our metrics-gathering trials and testing with additional equipment."
"The signing of this agreement took longer than anticipated due to the addition of the Circle K stores in Eastern Canada," added Mr. Romanov. "However, we feel that the inclusion of those 124 stores more than outweighs the additional time it took to reach an agreement."
Once the installation of the software in the Mac's chain is complete, iSIGN will have the world's largest fully interactive digital signage network, reaching an average of 1.5 million consumers a day in Mac's stores, as well as the expanded reach generated by iSIGN's software and equipment to consumers in the vicinity of each store. The installation will deliver daily data on an unparalleled scale, providing highly detailed, technology-driven metrics that enable ad revenue targeting to improve ROI