2022-05-10 | TSXV:ISD | Press release
TORONTO, May 10, 2022 (GLOBE NEWSWIRE) — iSIGN Media Solutions Inc. (“iSIGN” or “Corporation”) (TSX-V: ISD) (OTC: ISDSF), a leading provider of interactive proximity mobile marketing and public safety alert solutions is pleased to announce that following the press release dated April 28, 2022, it has received final approval from the TSX Venture Exchange to close the two-year convertible note in settlement of the previous convertible debt and related interest totaling $324,404.
Under this new two-year convertible note, the debt will be converted, at the option of the holder, into 6,488,080 common shares of the Company at a price of $0.05 per share in the first year and 0. $10 the second year. The Company has also agreed to grant the holders of the New Convertible Debenture 6,488,080 warrants exercisable at a price of $0.0625 per share for a period of two years from the date of conversion of the debenture. The new debenture will bear interest at the rate of 12% per annum, payable at maturity.
This completes the company’s transfer of all current debt to long-term debt and provides the company with immediate payment relief as it pursues its business plan and moves forward with its new technology.
About iSIGN Media
iSIGN, a Canadian company based in Toronto (Richmond Hill), Ontario, is a software-as-a-service (SaaS) oriented infrastructure, specializing in proximity-centric location services. The wealth of data we collect, coupled with AI analytics tools and localized cloud environments, enables us to deliver game-changing solutions to some of the most complex problems we face today. Included with our interactive mobile proximity marketing and public safety alerting solutions is its Passive Historical Contact Tracing (PHACT) technology, including HALO and the underlying framework, including the SPE asset management system for intelligent location analysis and intellectual property (IP) monitoring. The PHACT IP provides intelligent location analysis and monitoring. Designed as a contact tracing platform, the global platform enables monitoring of movement, congregational behaviors and general movements of individuals in a monitored space, while maintaining connectivity and compliance with all policies public confidentiality. PHACT provides real-time and historical information on individual movements, sojourn and behavior of crowds and audiences.www.isignmedia.com
This press release may include certain forward-looking statements based on current expectations, which involve risks and uncertainties associated with iSIGN Media’s business and the environment in which the company operates. All statements contained herein that are not statements of historical fact should be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend to” and similar expressions insofar as they relate to the Company or its management. Forward-looking statements are not historical facts but reflect iSIGN Media’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. iSIGN Media undertakes no obligation to update any forward-looking statements or to update the reasons why actual results may differ from those reflected in the forward-looking statements.
© 2022 iSIGN Media Solutions Inc. All rights reserved. All other trademarks and trade names are the property of their respective owners.
Company details :
iSIGN Media Solutions Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy of this release.