iSIGN Media Announces a Shares for Debt Transaction
22 Febrero 2022 - 4:30PM
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 it has entered into a
debt settlement arrangement with various companies and individuals
in which the Company has agreed to issue an aggregate of 7,222,277
common shares at a deemed price of $0.05 per share in settlement of
debts owned of $361,114.
Included in this transaction are various
companies that are either wholly or partially owned and controlled
by Josip (Joe) Kozar, iSIGN’s former Chief Executive Officer and a
person that iSIGN shareholders have approved of as a control person
in the Company. Mr. Kozar is a related party to the
Corporation as such term is defined in Multilateral Instrument
61-101 – Protection of Minority Security Holders in Special
Transactions (“MI 61-101”). The transaction contemplated in this
Agreement are exempt from the formal valuation and majority of
minority shareholder approval requirements of MI 61-101 by virtue
of the exemptions set forth in Sections 5.5(g) and 5.7(1)(e) of MI
61-101.
This arrangement is subject to the approval of
the TSX Venture Exchange (“Exchange”). The Company will issue these
shares, which are subject to a four month hold period once approval
for their issuance has been received from the Exchange.
Currently Mr. Kozar owns, directly and
indirectly, 35,458,088 common shares of the Company, which
represent 19.5% of the current outstanding shares. On closing this
transaction, Mr. Kozar will own directly and
indirectly 41,773,428 common shares representing 22.0% of
the Company’s outstanding shares.
About iSIGN MediaiSIGN, a
Canadian company based in Toronto (Richmond Hill), Ontario is a
data-focused, software-as-a-service (SaaS) company that is a
pioneering leader in the areas of location-based security alert
messaging and proximity marketing utilizing Bluetooth® and Wi-Fi
connectivity in complete privacy. Creators of the Smart suite of
products, a patented interactive proximity marketing technology,
iSIGN enables the delivery of messages to mobile devices in
proximity, with real-time reporting and analytics on a variety of
metrics. 2019 winner of Richmond Hill’s Innovator of the Year
award. Partners include IBM, Keyser Retail Solutions, Baylor
University, Verizon Wireless, and Mtrex Network Solutions.
www.isignmedia.com
Forward-Looking StatementsThis
news release may include certain forward-looking statements that
are based upon current expectations, which involve risks and
uncertainties associated with iSIGN Media’s business and the
environment in which the business operates. Any statements
contained herein that are not statements of historical facts may be
deemed to be forward-looking, including those identified by the
expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”,
“intend” and similar expressions to the extent they relate to the
Company or its management. The 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 assumes no obligation to update
the forward-looking statements, or to update the reasons why actual
results could 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 contacts:
Alex RomanoviSIGN Media Solutions Inc.alex@isignmedia.com
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.
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