iSIGN Media Solutions Inc. (TSX-V: ISD) (OTC: ISDSF) has applied to the TSX Venture Exchange for approval to extend the exercise date for the 9,566,094 outstanding warrants issued in November 2014 in conjunction with a private placement, the company said.
The 9,566,094 warrants due to expire on November 11, 2016 will be extended to November 11, 2018. There is no change to the original exercise price of USD0.24.
Of this total, 7,971,744 warrants are held by companies controlled by two individuals who are deemed to be “related parties”, as such term is defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”), of iSIGN, holding approximately 11.4% and 6.1% of the issued and outstanding common shares of the company.
iSIGN Media, based in Toronto, is a data-focused, software-as-a-service (SaaS) company that is a pioneering leader in gathering point-of-sale data and mobile shopper preferences to generate actionable data and reveal valuable consumer insights.