VANCOUVER, May 24, 2011 /CNW/ - Monexa Technologies Corp. (TSXV: MXA),
("Monexa"), the leader in flexible subscription billing, today
announced it has engaged SectorSpeak Inc ("SectorSpeak") to provide
investor relations services. SectorSpeak, owned and operated by Mr.
Hogan Mullally, is a Canadian capital markets consulting firm focused
on the technology, clean tech, and life sciences sectors.
"With the number of new customers we have recently added and our growing
pipeline of opportunities and prospects, we feel the time is right to
get active telling our story to new investors. Furthermore we sense
that investors are returning to technology and more importantly towards
growing Cloud or SaaS based businesses such as ours, so we feel the
potential audience for our story is growing," commented Garth Albright,
Monexa's Chief Financial Officer. "By bringing on SectorSpeak, a
company focused on communicating technology based stories, we believe
we have the right advocate to open doors with the right investor
Under the terms of the service agreement, SectorSpeak Inc., will receive
400,000 options ("Options") to purchase Monexa common stock at a price
of $0.115. The Options will vest over a one-year period and have a
term of five years. Once Monexa has completed a financing raising
gross proceeds of a minimum of $1.5 million, SectorSpeak will receive a
monthly retainer of $2,500 and an additional 200,000 options
("Additional Options") to purchase Monexa common stock at a price to be
determined. The Additional Options will vest over a one-year period
and have a term of five years.
SectorSpeak is at arms length to Monexa and neither it or Mr. Mullally
hold an equity position in the company. This agreement is subject to
About Monexa Technologies Corp.
Monexa pioneered the on-demand subscription billing space and has worked
with hundreds of businesses to help monetize their services. Having the
most capable and open subscription billing solution in the cloud,
combined with proven billing industry expertise, sets Monexa apart from
other service providers. Monexa's customers range in size from high
growth SaaS and Cloud Infrastructure companies like Untangle and
ActiveState to large household name companies like Pitney Bowes
Business Insight, AOL Canada, Sprint, Amway and Bell Mobility. For more
information visit http://www.monexa.com.
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
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.
SOURCE Monexa Technologies Corp.
For further information:
Garth Albright CFO