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
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
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.
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/ John Jacobson, CEO
D 604.630.5657/D 604-630-5661