TORONTO, Oct. 14 /CNW/ - Advantex Marketing International Inc. (TSX: ADX), a leading specialist in merchant funding and loyalty marketing programs, today announced that it has agreed with Canadian Imperial Bank of Commerce ("CIBC") on an extension until June 30, 2010 of their value-added loyalty marketing program agreement.
Under the agreement, certain CIBC credit card holders are able to accelerate their earning of rewards through purchases at merchants within the CIBC Advantex Benefit Program.
"We have enjoyed a lengthy and mutually beneficial relationship with CIBC that goes back to 1995 when our companies first agreed to work together on value-added loyalty marketing programs," said Kelly Ambrose, Chief Executive Officer and President of Advantex. "Our current agreement with CIBC was to expire on December 31, 2009. The companies have agreed that the agreement will be extended six months, through June 2010, while Advantex and CIBC evaluate a longer renewal."
Coinciding with the extension of the CIBC agreement, Advantex is also pleased to announce that it has secured a listing of its common shares on the TSX Venture Exchange ("TSXV") resulting in a seamless transition to the TSXV for its shareholders. Advantex's common shares will be delisted from the TSX effective at the end of trading on October 14, 2009, and will commence trading on the TSXV at the opening of trading on October 15, 2009 under the existing trading symbol ADX.
About Advantex Marketing International Inc.
Advantex is a specialist in the marketing services industry, managing white-labeled rewards accelerator programs for major affinity groups through which their members earn bonus frequent flyer miles and/or other rewards on purchases at participating merchants. Under the umbrella of each program, Advantex provides merchants with marketing, customer incentives, and secured future sales through its Advance Purchase Marketing model. Advantex partners include more than 1000 restaurants, online retailers, golf courses, small inns and resorts, and major organizations, including CIBC, United Airlines, Alaska Airlines, and Lufthansa Airlines. Advantex is currently traded on the Toronto Stock Exchange under the symbol "ADX". For additional information on Advantex, please visit www.advantex.com.
SOURCE ADVANTEX MARKETING INTERNATIONAL INC.
For further information: For further information: Mukesh Sabharwal, Vice-President and Chief Financial Officer, Tel: (905) 470-9558 ext. 249, E-mail: Mukesh.email@example.com