Monexa Technologies Corp. Announces Non-Brokered Private Placement
The Company received final acceptance from the TSX Venture Exchange for the issuance to Investors of 2,083,334 convertible preferred shares (the "Shares") of the Company at a price of
Investors will be entitled to an annual cumulative cash dividend of 10% of the issue price of the Shares, payable in cash in arrears on
The Investors have agreed that, on redemption of the Shares, they will receive the lesser of: (a) a price equal to three times the Company's annual revenue, calculated on a per common share basis; and (b) the Redemption Price. The Investors will also have a pro-rata right to participate in subsequent equity or debt financings and maintain their percentage equity ownership of the Company on a fully-diluted basis.
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
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.
For further information: For further information: John Bean, CFO, D (604) 630-5657, E [email protected]
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