iSIGN Media Solutions Inc, a leading provider of interactive mobile advertising solutions that serves advertisers, manufacturers, retailers and advertising agencies throughout North America and Carroll Advertising, Inc. (“Carroll”), an independently owned and operated advertising company located in Boston, MA., are pleased to announce that they have signed a non-binding Letter of Intent (“LOI”).
Under the terms of the LOI, Carroll has agreed to an upfront payment of $250,000 US in licensing fees, in exchange for 230 Licenses for iSIGN’s Smart Antenna (“SA”) and related Interactive Marketing Solutions (“IMS”) 3.1 software, for a period of three years. In addition, Carroll will receive exclusive rights to the New England territory.
To satisfy Carroll’s desire for an ownership position in the Company, iSIGN will grant to Carroll, 500,000 options priced at market plus $0.02, subject to the approval of the Company’s Board of Directors and the TSX – Venture Exchange.
“This opportunity came to us from our attendance at the DSE trade show this past March,” said Alex Romanov, iSIGN’s Chief Executive Officer. “We feel that this is an excellent opportunity for us to have our equipment and software installed in one of the most heavily populated areas in the United States.”
“We were very impressed by the IMS software and Smart Antenna that we saw demonstrated at the DSE show and see tremendous opportunities in our market,” stated Mr. John Carroll, President of Carroll Advertising, Inc. “We decided that we had to have this system for the New England area and started our discussions with iSIGN immediately. We expect to complete our test of the system by the end of April and to move forward immediately upon its conclusion.”
“We have identified iSIGN’s technology as an innovative and measurable method of delivering timely messaging to consumers in the fastest growing market in the world today – hand held mobile devices,” added Mr. Carroll. “We are looking forward to bringing this technology to the masses in the United States, starting in the highly populated northeast corridor. Our expectation is that iSIGN Media will be embraced by most every category of business and our ability to place the Smart Antenna will have no limits.”
“We were gratified that Carroll expressed a desire to have an ownership position in the Company as it shows that they have an extremely strong belief in the future success of iSIGN,” added Mr. Romanov.
About iSIGN Media
iSIGN Media is a North American leader in multiplatform advertising solutions that utilize Bluetooth, Mobile, WiFi and Location-Aware technologies to deliver rich media, permission-based messages to engage consumers more deeply and cost-effectively. The resulting business intelligence and real time metrics, gathered through iSIGN’s patent-pending advertising platform, deliver insights into emerging consumer behaviors that help advertisers measure their efforts and make better business decisions to increase ROI and customer loyalty. Headquartered in Richmond Hill, Ontario, with R&D and customer support operations in Vancouver, BC and Tampa, FL, the Company has also grown to become the largest owner/operator of in-store digital media in Canada with 5,600 digital signs in 1,400 locations. Partners include: AOpen America Inc. and IBM, with solution distribution by BlueStar Inc. iSIGN is publicly traded in Toronto (TSX.V). Additional information can be found at www.isignmedia.com.
About Carroll Advertising
Carroll Advertising is a Boston based independently owned and operated advertising company specializing in out-of-home and digital out-of-home advertising. We were the first company in Massachusetts with digital billboards and have expanded into the digital out-of-home marketplace with digital signage, including locations on ferries serving Cape Cod, Nantucket and Martha’s Vineyard. Additional information can be found at www.carrolladvertising.com.
Carroll Advertising, Inc.
John Carroll, President
john [at] carrolladvertising.com
609 750 9110
brooney [at] sspr.com
ThinkInk Communications LLP
305 749 5342, extension 232
vanessa [at] thinkinkpr.com
Source: iSIGN Media Solutions