Toronto-based iSIGN Media Solutions Inc. (TSX-Venture: ISD), which provides interactive mobile advertising solutions, came out Thursday with word it was exercising one million previously issued and outstanding warrants priced at $0.10 by Korona Group Ltd.
Korona is a major shareholder. Its 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 very soon
Said CEO Josip Kozar, “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.”
ISD shares picked up a penny, or 14.3%, to eight cents late Thursday morning, on volume of 834,000 shares.