Science & Technology
Science and Technology
Science and Technology
Sat, March 24, 2012
Fri, March 23, 2012 iSIGN Media Announces TSX Venture Exchange Approval of Mac's Warrants
March 23, 2012 07:52 ET
iSIGN Media Announces TSX Venture Exchange Approval of Mac's Warrants
TORONTO, ONTARIO--(Marketwire - March 23, 2012) - iSIGN Media Solutions Inc. ("iSIGN" or "Company") (TSX VENTURE:ISD), a leading provider of interactive mobile advertising solutions that serves advertisers, manufacturers, retailers and advertising agencies throughout North America, is pleased to announce that it has received TSX Venture Exchange approval for the warrants that were included in the Virtual Private Advertising Network Services Agreement ("VPAN") that was signed with Mac's Convenience Stores Inc. ("Mac's") and Couche-Tard Inc. ("CT") in January 2012.
As agreed between the companies, Mac's/CT will be issued 3,000,000 warrants, exercisable into one common share of iSIGN at a price of $0.50, for a five year period. In addition, Mac's/CT has the option of acquiring 2,924,448 or 1,462,224 common shares of the Company in exchange for either 100% or 50% of the VPAN defined royalty payments.
"We are pleased that the Exchange has issued its acceptance of these warrants," said Alex Romanov, iSIGN's Chief Executive Officer. "This acceptance allows us to finalize the last outstanding part of the agreement and move forward."
In addition, iSIGN is pleased to announce that its Board of Directors will be meeting on March 29, 2012 to review and approve the recently prepared Shareholder Rights Plan ("Plan"). This Plan is designed to encourage a fair treatment of shareholders, should a take-over bid be made for the Company and will provide the Board and Company shareholders more time to consider unsolicited take-over bids of the Company. The Plan is intended to discourage coercive or unfair take-over bids and gives the Board time to pursue alternatives to maximize shareholder value, if appropriate, in the event of an unsolicited take-over bid.
The Plan has not been developed in response to, or in contemplation of, any specific proposal to acquire control of iSIGN. The Plan will be subject to acceptance by the TSX Venture Exchange and must be ratified by the Shareholders at the Company's next annual general meeting scheduled to take place in 2012.
A complete copy of the Plan will be made available on SEDAR at [ www.sedar.com ]once it has been approved by the Board and received final approval from the TSX Venture Exchange.
About iSIGN Media
iSIGN Media is a North American leader in multiplatform advertising solutions that utilize Bluetooth, Mobile, WiFi and Location-Aware technologies to deliver rich media, permission-based messages to engage consumers more deeply and cost-effectively. The resulting business intelligence and real time metrics, gathered through iSIGN's patent-pending advertising platform, deliver insights into emerging consumer behaviors that help advertisers measure their efforts and make better business decisions to increase ROI and customer loyalty. Headquartered in Richmond Hill, Ontario, with R&D and customer support operations in Vancouver, BC and Tampa, FL, the Company has also grown to become the largest owner/operator of in-store digital media in Canada with 5,600 digital signs in 1,400 locations. Partners include: AOpen America Inc. and IBM, with solution distribution by BlueStar Inc. iSIGN is publicly traded in Toronto (TSX.V). Additional information can be found at [ www.isignmedia.com ].
Forward-Looking Statements
This news release includes 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.
© 2012 iSIGN Media Solutions Inc. All Rights Reserved. All other trademarks and trade names are the property of their respective owners.
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 or accuracy of this release.
