iSIGN Media gets convertible promissory notes approval

iSIGN Media Solutions Inc. (TSXV:ISD) (OTC: ISDSF), a provider of interactive mobile proximity marketing and public security alert solutions, has received final approval from the necessary regulatory agency to close a financing by way of a private placement of secured convertible promissory notes, for aggregate gross proceeds of USD225,000, the company said.

The Notes will have terms of 12 months and will accrue interest at a rate of 10% per annum, payable upon maturity. Proceeds will be used for the preparation of the patent application for the Company´s Push Sensor project, software development and general working capital.

iSIGN Media, based in Toronto, is a data-focused, software-as-a-service (SaaS) company focuses on gathering point-of-sale data and mobile shopper preferences to generate actionable data and reveal valuable consumer insights.