Funds used to retire the convertible notes that were issued on July 28
By Devika Patel
Knoxville, Tenn., Oct. 27 – Isign Media Solutions Inc. said it plans a C$1.53 million non-brokered private placement of units.
The company will sell 9,566,094 units of one common share and one warrant at C$0.16 per unit.
The warrants are each exercisable at C$0.24 for two years. The strike price reflects a 50% premium to the Oct. 24 closing share price of C$0.16.
Proceeds will be used to retire the company’s convertible notes that were issued on July 28.
Based in Toronto, Isign is a developer of in-store interactive proximity advertising solutions that deliver rich media, permission based messages, free of charge to cell phones using Bluetooth connectivity.
| Issuer: | Isign Media Solutions Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,530,575
|
| Units: | 9,566,094
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| Price: | C$0.16
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| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
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| Warrant strike price: | C$0.24
|
| Agent: | Non-brokered
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| Settlement date: | Oct. 27
|
| Stock symbol: | TSX Venture: ISD
|
| Stock price: | C$0.16 at close Oct. 24
|
| Market capitalization: | C$12.42 million
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