Advantex Appoints CFO

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[{"type":"text","content":"\n\n\n\nADX: TSX\n\n\nTORONTO, Feb. 7 /CNW/ - Advantex Marketing International Inc. (TSX: ADX),\na leading specialist in merchant funding and loyalty marketing programs, today\nannounced the appointment of Mukesh Sabharwal, C.A. as Vice-President and\nChief Financial Officer.\n\n\nPrior to his appointment, Mr. Sabharwal served as Advantex's\nVice-President, Finance. He succeeds Robert von der Porten who was interim\nCFO. Mr. von der Porten will continue to advise Advantex as Senior\nVice-President, Corporate Development on an interim basis. In this capacity,\nhe will manage a number of growth initiatives that Advantex is considering as\nwell as provide ongoing counsel in finance. Mr. von der Porten is a principal\nof Stoney Bridge Partners, an advisory firm that provides interim executive\nsupport as well as restructuring and change management services.\n\n\n"Since Mukesh Sabharwal joined Advantex in September 2005 as our\nVice-President, Finance, he has been involved in every aspect of the extensive\nwork that we have done to improve the company's financial condition, including\nimplementing improved financial analysis systems and controls," said Kelly E.\nAmbrose, President and Chief Executive Officer. "He has worked closely with\nRob von der Porten on the successful completion of a number of financings and\nin the important development of new pricing models that are enabling us to\nimprove Advantex's profitability. We are very pleased that he is now assuming\nthe additional responsibilities of CFO. We also are pleased that Rob von der\nPorten has agreed to continue to work closely with us, particularly on the\ndevelopment of a number of initiatives that we are exploring to further our\ngrowth."\n\n\nPrior to joining Advantex, Mr. Sabharwal held a number of financial\ncontrol and accounting positions in Canada, the U.K., and Kuwait.\nMr. Sabharwal is a Member of the Institute of Chartered Accountants in England\nand Wales since 1985 and earned his CA designation in Ontario in 2001.\n\n\nAbout Advantex Marketing International Inc.\n\n\nAdvantex is a specialist in the marketing services industry, managing\nwhite-labeled rewards accelerator programs for major affinity groups through\nwhich their members earn bonus frequent flyer miles and/or other rewards on\npurchases at participating merchants. Under the umb...

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