ADX: TSX
TORONTO, Jan. 26 /CNW/ - Advantex Marketing International Inc. (TSX:ADX)
today announced that it has engaged Notre-Dame Capital as its exclusive agent
to raise up to $2,000,000 by way of a private placement of common shares of
Advantex, subject to the filing of definitive transaction documentation. Under
the terms of the private placement, Advantex will issue common shares at
$0.081, the volume weighted average price (VWAP) for the five-days prior to
the agreement. Proceeds from the private placement will be used for general
working capital purposes and to fund growth initiatives in the Canadian
market.
In addition, Advantex has engaged Notre-Dome Capital to act as its
exclusive agent in offering a private placement of non-convertible secured
debentures ("Debentures") of the Corporation, in an amount of up to
approximately $5,000,000 which will rank behind the Company's currently
outstanding convertible debentures. The non-convertible secured debentures
will be sold with Common Share purchase warrants attached which if exercised
in full would represent aggregate subscription proceeds equal to approximately
fifteen percent (15%) of the value of the Debentures sold. Proceeds from the
Debenture offering will be used to fund growth initiatives in the Canadian
market such as expanding of the Company's current product offering and
developing adjacent merchant vertical markets.
About Advantex Marketing International Inc.
Advantex Marketing International Inc. is a leading marketing services
company, specializing in integrated marketing solutions for its Merchant and
Channel Partner clients. Advantex offers a range of products and services
including coalition loyalty rewards programs, online shopping malls, direct
marketing, online and email promotion; and data capture and award processing
systems. Advantex loyalty partners include CIBC, United Airlines, Delta Air
Lines, The New York Times, and other major North American corporations, as
well as a growing list of restaurants, online 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 may include statements about expected future events
and/or financial results 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. Future
events and results may vary substantially from what Advantex currently
foresees. 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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