ADX: TSX
TORONTO, Nov. 20 /CNW/ - Advantex Marketing International Inc.
("Advantex" or the "Company") announces the second and final closing of its
$6 million private placement debenture financing, as previously announced in
the Company's News Releases dated October 27 and November 10, 2006 (the
"Offering"). Notre-Dame Capital Inc. ("Notre Dame") and Trapeze Capital
Corporation ("Trapeze") acted as the Company's exclusive agents in raising an
additional $315,000 principal amount of secured convertible debentures of
Advantex (the "Debentures") pursuant to the Offering. Total aggregate gross
proceeds of $6 million were raised pursuant to the Offering.
The Debentures bear interest at 10% per year and mature on December 9,
2011. Each $1,000 principal amount of Debenture is convertible, at any time
until maturity at the option of the holder thereof and in accordance with the
terms of the certificates governing the Debentures, into common shares of
Advantex at a price of $0.10 per share.
Advantex paid Trapeze and Notre Dame a cash commission of $7,875 and
$13,500, respectively. Notre Dame also received a due diligence work fee of
$50,000 in respect of the Offering. Richard T. Groome, a director of the
Company, is also a director, officer and controlling shareholder of Notre
Dame.
The additional gross proceeds of the Offering will be used to fund
Advantex's Advance Purchase Marketing Program and for general working capital
purposes.
About Advantex Marketing International Inc.
Advantex Marketing International Inc. is a leading marketing services
company, specializing in Advance Purchase Marketing Programs for merchants,
coalition loyalty rewards programs, and Online Shopping Malls. Advantex
loyalty partners include CIBC, United Airlines, Delta Air Lines, The New York
Times, and other major corporations, as well as a growing list of restaurants,
retailers, golf courses, small inns and resorts. Advantex is a public company,
traded on the Toronto Stock Exchange under the symbol "ADX". For additional
information on Advantex, please visit www.advantex.com.
This press release includes statements about Company expectations that
are forward-looking in nature and subject to risks and uncertainties. Advantex
cautions that actual performance will be affected by a number of factors, many
of which are beyond its control. Discussion of the various factors that may
affect future results is contained in Advantex's recent filings with Canadian
securities regulatory authorities.
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