LAVAL, Quebec -- Mac's Convenience Stores Inc. has signed a virtual private advertising network services agreement with iSIGN Media Solutions Inc., a leading provider of interactive mobile advertising solutions that serves advertisers, manufacturers, retailers and advertising agencies throughout North America.
iSIGN Media is a North American provider of multiplatform advertising solutions that use 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 return on investment and customer loyalty.
The deal is went into effect December 16, 2011, and is for a five-year term with an option for an additional five years.
The agreement allows for Mac's to acquire three million warrants to acquire three million iSIGN shares, at an exercise price of 50 cents with a five-year exercisable life. Additionally, Mac's has the option of acquiring up to 5% of iSIGN's outstanding shares, subject to TSX-Venture Exchange approval.
Mac's parent company, Alimentation Couche-Tard Inc., has added to this agreement the option to add the existing 124 Circle K stores in eastern Canada to the current Mac's network within the next 18 months or sooner.
"We are pleased to have this agreement signed and in place," said Alex Romanov, iSIGN's CEO. "With the agreement now signed, we can fully expedite the launch of iSIGN's software and antennas throughout the Mac's chain and expand upon our metrics-gathering trials and testing with additional equipment."
He added, "The signing of this agreement took longer than anticipated due to the addition of the Circle K stores in eastern Canada; however, we feel that the inclusion of those 124 stores more than outweighs the additional time it took to reach an agreement."
Once the installation of the software in the Mac's chain is complete, iSIGN will have the world's largest fully interactive digital signage network, reaching an average of 1.5 million consumers a day in Mac's stores, as well as the expanded reach generated by iSIGN's software and equipment to consumers in the vicinity of each store. The installation will deliver daily data on an unparalleled scale, providing highly detailed, technology-driven metrics that enable ad revenue targeting to improve return on investment.
Based in Richmond Hill, Ontario, with research and development and customer support operations in Vancouver, B.C., and Tampa, Fla., iSIGN has 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.
Laval, Quebec-based Alimentation Couche-Tard Inc., with annual revenues of more than $15.8 billion, has a c-store network of approximately 5,800 stores. These stores--under three main brands, Couche-Tard, Mac's and Circle K--are located across 10 provinces of Canada in three geographic markets (East, Center and West), and across 43 American states and the District of Columbia in eight major markets (Great Lakes, Midwest, Southeast, Florida, Gulf, Arizona, West Coast, Southwest).
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