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iSIGN Media Announces an Exercise of One Million Warrants Priced at $0.10TORONTO, Oct. 17, 2019 (GLOBE NEWSWIRE) -- iSIGN Media Solutions Inc. (“iSIGN” or “Company”) (TSX-V: ISD) (OTC: ISDSF), a leading provider of interactive mobile advertising solutions that serves brands, commercial locations, retailers and service providers throughout North America, today announced the exercise of one million previously issued and outstanding warrants priced at $0.10 by Korona Group Ltd. (“Korona”). Korona is a company wholly owned by Josip Kozar, iSIGN’s Chief Executive Officer and is a major shareholder. Korona’s exercise of warrants priced at a significant premium above current market price is a major statement of confidence in the direction the Company is taking, as well as in iSIGN’s future growth and valuation. Based upon iSIGN’s three-year renewable contract with Hi-Tek Media and other ongoing initiatives, the Company expects that it will be cash flow positive and self-sustainable within the foreseeable future. Further exercise of warrants by Korona will be considered as required to allow for the future purchase and preparation of hardware components for our reseller in the United States to continue in their building of a one-of-a-kind mobile communications network powered by iSIGN’s patented technology and utilizing iSIGN hardware. “I firmly believe that iSIGN’s patented technology is not properly understood and valued by the market, nor reflected in the current market price of our shares,” stated Mr. Josip Kozar, iSIGN’s Chief Executive Officer. “We believe we are in a position to see a great growth in revenue within the coming months as the Omni Veil network is scaled upwards in Nevada and additional states, as well as from the completion of other existing initiatives and other potential opportunities.”>
The decision to not proceed with this placement has been taken due to the recent press release by our reseller, Hi-Tek Media, and their related order for 100 Smart Antennas and 100 PODX units for use in emergency vehicles operated by Quality Towing (division of United Road Towing Inc.) and the Company’s desire to avoid unnecessary dilution arising from the issuance of shares and related warrants at this time. We would like to thank all shareholders for their ongoing support throughout this exciting process. About iSIGN Media Forward-Looking Statements © 2019 iSIGN Media Solutions Inc. All Rights Reserved. All other trademarks and trade names are the property of their respective owners. Investor contacts: Josip (“Joe”) Kozar 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. |