Units sold at C$0.20 each to fund marketing, research and development
By Devika Patel
Knoxville, Tenn., Oct. 6 - Isign Media Solutions Inc. said it will conduct a brokered and non-brokered private placement of units. Byron Securities Ltd. is the agent for the brokered portion of the deal, which will raise C$2 million. The non-brokered offering is for C$250,000.
The company will sell 11.25 million units at C$0.20 apiece. Each unit consists of one common share and one half-share warrant. The whole warrants are exercisable at C$0.30 for two years.
The strike price reflects a 50% premium to the Oct. 5 closing share price of C$0.20.
Proceeds will be used for general working capital, including marketing, research and development.
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 half-share warrant
|
| Amount: | C$2.25 million
|
| Units: | 11.25 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Byron Securities Ltd. (for C$2 million), non-brokered (for C$250,000)
|
| Pricing date: | Oct. 6
|
| Stock symbol: | TSX Venture: ISD
|
| Stock price: | C$0.20 at close Oct. 5
|
| Market capitalization: | C$7.32 million
|
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