Monexa Technologies Corp. Announces Private Placement
07 Janvier 2011 - 9:22PM
PR Newswire (Canada)
VANCOUVER, Jan. 7 /CNW/ -- VANCOUVER, Jan. 7 /CNW/ - Monexa
Technologies Corp. (TSX-Venture: MXA) ("Monexa" or the "Company")
is pleased to announce a non-brokered private placement of up to
10,000,000 units of the Company at the price of $0.05 per unit to
raise gross proceeds of up to $500,000 (the "Private Placement").
Each unit consists of one common share of the Company and one-half
of one transferable common share purchase warrant, each whole
warrant entitling the holder to purchase one additional common
share of the Company at a price of $0.10 for the first twelve
months and $0.15 for the second twelve months from the date of
closing of the Private Placement. The Company has agreed to pay a
finder's fee consisting of a cash commission of 8% of the gross
proceeds received from the sale of the units and finder's warrants
equal to 8% of the units sold to subscribers. The closing of the
Private Placement is subject to the approval of the TSX Venture
Exchange. Garth Albright, CFO of Monexa, said, "The capital from
the Private Placement will be used to bridge Monexa's operational
requirements as we continue to grow our SaaS billing business
targeting companies with subscription and other recurring billing
needs." About Monexa Technologies Corp. Monexa pioneered the
on-demand subscription billing space and has worked with hundreds
of businesses to help monetize their services. A deep skill-base
and leadership in subscription billing sets Monexa apart from other
service providers and attracts established customers North
America-wide. Monexa's customers range in size from high growth
SaaS and Cloud Infrastructure companies to large household name
companies like AOL Canada, Sprint, Amway and Bell Mobility. Monexa
provides companies the freedom to market their services through
creative pricing plans by removing barriers imposed by traditional
billing and payments processes. Monexa stands for rapid, dependable
monetization of all subscription services. For more information
visit www.monexa.com. Forward-Looking Statements This news release
contains forward-looking statements. Actual events or results may
differ materially from those described in the forward-looking
statements due to a number of risks and uncertainties, including
changes in financial and product market conditions.
Forward-looking statements are based on management's estimates,
beliefs, and opinions. The Company assumes no obligation to
update forward-looking statements, other than as may be required by
applicable law. Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/January2011/07/c9222.html
pGarth Albright, CFO/ John Jacobson, CEObr/ D 604.630.5657/D
604-630-5661br/ bE/ba href="mailto:ir@monexa.com"ir@monexa.com/a/p
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