iSIGN Media Announces the Close of its Previously Announced Private Placement |
Wednesday, 25. November 2020 01:30 |
---|
TORONTO, Nov. 24, 2020 (GLOBE NEWSWIRE) -- iSIGN Media Solutions Inc. (“iSIGN” or “Company”) (TSX-V: ISD) (OTC: ISDSF), a leading provider of interactive mobile proximity marketing and public security alert solutions announced it has closed its previously announced non-brokered private placement (“Placement”) for aggregate gross proceeds of $64,000 with its Chief Executive Officer, Joe Kozar. The Company completed the Arrangement by issuing 1,280,000 Units at a price of $0.05 per Unit. Each Unit consists of one Common Share of the Company (each a “Common Share” and collectively, the “Common Shares”) and one common share purchase warrant (each warrant referred to herein as a “Warrant” and collectively, the “Warrants”). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.075 for a period of 24 months from the date of closing. All securities are subject to a four month hold period. Mr. Kozar is deemed to be a “related party”, as such term is defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”), being the Company’s Chief Executive Officer and currently holding approximately 15% of the Company’s issued and outstanding common shares of the Company. For this transaction, the Company has relied on the exemption from the formal valuation requirements of MI 61-101 contained in section 5.5(a) of MI 61-101 and has relied on the exemption from the minority shareholder approval requirements of MI 61-101 contained in section 5.7(a) of MI 61-101. About iSIGN Media Forward-Looking Statements © 2020 iSIGN Media Solutions Inc. All Rights Reserved. All other trademarks and trade names are the property of their respective owners. Company contacts: Bruce Reilly 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. |
Related Links: |
Author: Copyright GlobeNewswire, Inc. 2016. All rights reserved. You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account. |