iSIGN Media Announces TSX-V Approval to Complete Acquisition of Exclusive Worldwide License Agreement for Advanced Technologies and Related Platforms

iSIGN Media Solutions Inc.

TORONTO, April 08, 2022 (GLOBE NEWSWIRE) — iSIGN Media Solutions Inc. (“iSIGN” or the “Company”) (TSX-V: ISD) (OTC: ISDSF) a leading provider of interactive mobile proximity marketing and Public Safety Alert Solutions, announced that it has received the necessary approval from the TSX Venture Exchange (“TSX-V”) to acquire this exclusive worldwide license agreement (“Agreement”) in perpetuity from SIMBL Business Enablement Inc. (“SIMBL”) for its Passive Historical Contact Tracing (“PHACT”) and underlying framework, including the EPS asset management system for intelligent location analytics and intellectual property monitoring (“IP “).

The PHACT IP, installed at Prince George Airport in British Columbia, provides intelligent location monitoring and analysis. Designed as a contact tracing network, the global platform enables monitoring of movement, congregational behavior and general movement of individuals in a monitored space, while maintaining compliance with all public privacy policies. PHACT provides real-time and historical information on individual movements, sojourn and crowd behavior. PHACT is highly applicable to managing public distancing during COVID pandemic lockdowns and security/safety alerts.

With this approval, iSIGN and its resellers are now able to demonstrate the new technology to a variety of customers, including airports, mass transit systems, shopping malls, sports stadiums, concert halls, and more.

iSIGN will deliver our new HALO units with GPS to one of our US-based resellers for customer approval early next week. Additionally, we are in the process of completing units with facial recognition for use with a Mexican public transit system.

Under this arm’s length agreement, iSIGN has a right of first offer and a right of first refusal (“first rights”) with respect to the subsequent acquisition of two additional pieces of intellectual property, according to terms and conditions to be mutually agreed. :

  • Virtual Intelligent In-Home Health Care (“ViiHC”), an advanced personal assistant and device designed to work with existing and bespoke wearable and IoT health sensors to create a virtual twin of an individual, aggregating information about health, providing beneficial reminders and suggestions, and making recommendations to improve health and well-being, and,

  • Open source code forks for each of the platforms offered, allowing communities to increase and improve overall utility and develop an ecosystem that provides valuable input and assistance in the development of new product offerings.

The first rights relating to the foregoing may be exercised with respect to either or both of the additional IPs, as the parties may determine. The acquisition would be subject to the approval of the (“TSX-V”).

SIMBL has committed not to use the IP for its own purposes or to issue new licenses to third parties and that any new licenses issued will be issued via iSIGN. Ownership of the IP will remain with SIMBL while iSIGN’s existing forbearance agreement remains in effect. Ownership of the Intellectual Property shall transfer to iSIGN upon mutual consent of the parties at a later date which shall not be unduly withheld without further additional payment required for the transfer. However, charges for all ongoing IP maintenance, upgrades and support services will continue in perpetuity.

This agreement will not result in any transfer of liabilities or contingent liabilities and there will be no transfer of existing SIMBL customers from SIMBL to iSIGN.

SIMBL will provide all ongoing maintenance, upgrade and support services to the IP during the term of the agreement, for a fee of 10% of the revenue generated from their technology.

The shares issued under this agreement total 22.490 million and will enable SIMBL to hold 9.93% of the outstanding shares of the Company. Of this total, 19.1 million common shares of treasury with a deemed value of $0.05 per share for a value of $955,000. Additionally, iSIGN will issue an additional 3.390 million shares of common stock from treasury to settle an outstanding debt of $169,500 for technology services rendered by SIMBL at the end of January 2022. All securities issued would be subject to a hold period. four months.

For this transaction, the Company relied on the exemption from the formal valuation requirements of NI 61-101 contained in section 5.5(a) of NI 61-101 and relied on the exemption from the requirements approval by minority shareholders of MI 61-101. listed in section 5.7(a) of NI 61-101.

About iSIGN Media
iSIGN, a Canadian company based in Toronto (Richmond Hill), Ontario, is a data-driven Software as a Service (SaaS) company that is a leader in the fields of security alert messaging based tracking and proximity marketing using Bluetooth® connectivity and Wi-Fi in complete privacy. Creators of the Smart product suite, a patented interactive proximity marketing technology, iSIGN enables message delivery to nearby mobile devices, with real-time reporting and analytics on a variety of metrics. 2019 winner of the Richmond Hill Innovator of the Year Award. Partners include IBM, Keyser Retail Solutions, Baylor University, Verizon Wireless and Mtrex Network Solutions.

SIMBL, a Canadian company based in Toronto, Ontario, is a business support company that specializes in the development of innovative software solutions. We have expertise in defining the framework for SaaS deployments and developing end-to-end solutions ranging from website and marketplace development to pricing and infrastructure.

Forward-looking statements
This press release may include certain forward-looking statements based on current expectations, which involve risks and uncertainties associated with iSIGN Media’s business and the environment in which the company operates. All statements contained herein that are not statements of historical fact should be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”. to”, “intend” and similar expressions insofar as they relate to the Company or its management. Forward-looking statements are not historical facts but reflect iSIGN Media’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. iSIGN Media undertakes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

© 2022 iSIGN Media Solutions Inc. All rights reserved. All other trademarks and trade names are the property of their respective owners.

Company details :

Alexander Romanov
iSIGN Media Solutions Inc.
[email protected]

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 for the accuracy of this release.

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