iSIGN Media Announces Closing of the First Tranche of its Previously Announced Private Placement of up to $236,700
TORONTO, Jan. 14, 2021 (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 that it has closed the first tranche (the “First Tranche”) of its previously announced non-brokered private placement (“Placement”) of up to $236,700.
The Company completed the First Tranche of the Placement for total gross proceeds of $86,700 by issuing 1,734,000 Units (“Units”) at a price of $0.05 per Unit. Each Unit consists of one Common Share of the Company (each a “Common Share”, collectively, the “Common Shares”) and one common share purchase warrant (each warrant referred to herein as a “Warrant” and collectively, the “Warrants”). Each Warrant entitles 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.
The proceeds of the Placement will be for operational purposes.
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