iSIGN Media has announced the signing of a license agreement for advanced technology and related platforms with SIMBL. CanadianBusinessJournal

Toronto, March 30, 2022 (GLOBE NEWSWIRE) — iSIGN Media Solutions Inc. (“ISIGN” or “Company”) (TSX-V: ISD) (OTC: IDSSF), a leading provider solution for interactive mobile proximity marketing and public security alerts, announced on March 30, 2022 by the company’s passive historical contact trace. (“PHACT”) and the underlying framework, SIMBL Business Enablement Inc. Announced that it has signed a permanently exclusive worldwide license agreement (“Agreement”) with (“SIMBL”). Includes SPE asset management system for smart location analysis and intellectual property (“IP”) monitoring.

PHACT IP provides smart location analysis and monitoring. Designed as a contact tracing platform, the overall platform allows you to monitor individual movements, congregation behavior, and general movements within a monitored space while maintaining compliance with all public privacy policies. PHACT provides real-time historical information about individual movements, housing, and crowd behavior.

Under the terms of this arm length contract, iSIGN will have the right to the first offer and the right to the first refusal with respect to the further acquisition of two additional IP items, based on mutually agreed terms. Have the first right “). :

  • Virtual Intelligent In-Home Health Care (“ViiHC”) works with existing bespoke wearables and IoT health sensors to create personal virtual twins, aggregate health information, and provide reminders and informative suggestions. An advanced personal assistant and appliance designed to. Make recommendations for improving health and well-being, and
  • The open source code forks on each platform provided allow the community to enhance and improve the overall utility and develop an ecosystem that provides valuable information and assistance in the development of new products.

The first right with respect to the above may be exercised with respect to either or both of the additional IPs as may be determined by the parties. The acquisition requires TSX-Venture Exchange (“TSX-V”) approval.

Under the terms of the agreement, SIMBL does not use the IP for its own purposes or issue new licenses to third parties, and the new licenses issued are contracted to be issued through iSIGN. IP ownership remains with SIMBL, but iSIGN’s existing grace agreement remains valid. Ownership of the IP will be transferred to iSIGN at a later date with the mutual consent of the parties. It will not be unreasonably detained without requiring additional payment for the transfer. However, all fees for continuous IP maintenance, upgrades, and support services will continue forever.

iSIGN will acquire this Agreement by issuing 19.1 million shares of common stock from the Ministry of Finance, worth $ 955,000 and a deemed value of $ 0.05 per share. In addition, as of the end of January 2022, iSIGN will issue an additional 3.39 billion shares of common stock from the Treasury to settle $ 169,500 in outstanding debt for technology services provided by SIMBL.

For a total of 22.490 million shares issued under this Agreement, SIMBL will own 9.93% of the Company’s outstanding shares.

Under the terms of the agreement, SIMBL agrees to provide IP with all ongoing maintenance, upgrades, and support services for the duration of the agreement at a rate of 10% of the revenue generated from the technology.

This agreement does not transfer any liability or contingent liability and does not transfer existing SIMBL clients from SIMBL to iSIGN.

In addition, this Agreement and the resulting issuance of shares requires the approval of the TSX Venture Exchange. All issued securities are subject to a four-month holding period.

In this transaction, the Company relied on the exemption of the formal valuation requirement of MI 61-101 contained in Section 5.5 (a) of MI 61-101 and the exemption of the minority shareholder approval requirement of MI 61-101. It is included in section 5.7 (a) of MI 61-101.

About iSIGN Media
Based in Toronto, Ontario (Richmond Hill), iSIGN is a software-as-a-service (SaaS) company with a focus on data and a pioneer in location-based security alert messaging and proximity marketing. Leader. Bluetooth® and Wi-Fi connection with full privacy. ISIGN, the creator of the Smart product suite, a patented interactive proximity marketing technology, enables you to deliver messages to nearby mobile devices with real-time reporting and analysis of various metrics. Winner of the Richmond Hill Innovator of the Year in 2019. 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 specializing in the development of innovative software solutions. We have the expertise to define a framework for SaaS deployment and develop complete solutions from website and market development to pricing and infrastructure.

Description of future prospects
This news release may contain specific forward-looking statements based on current expectations, including risks and uncertainties related to iSIGN Media’s business and the environment in which it operates. Statements contained in this document that are not historical facts are to “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” and to the Company or its management. Similar representations to the extent relevant. Forward-looking statements are not historical facts, but reflect iSIGN Media’s current expectations of future outcomes or events. These forward-looking statements are subject to many risks and uncertainties where actual results and events may differ materially from current expectations. iSIGN Media undertakes no obligation to update any forward-looking statement or why actual results may differ from those reflected in the forward-looking statement.

© 2022 iSIGN Media Solutions Inc. All rights reserved. All other trademarks and trade names belong to their respective owners.

Company contact:

Alex Romanov
iSIGN Media Solutions Inc.
(905) 780-6200

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange policy) is responsible for the accuracy of this release.

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iSIGN Media has announced the signing of a license agreement for advanced technology and related platforms with SIMBL. CanadianBusinessJournal

Source link iSIGN Media has announced the signing of a license agreement for advanced technology and related platforms with SIMBL. CanadianBusinessJournal

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