Monexa Technologies Corp. Announces Non-Brokered Private Placement

VANCOUVER, Nov. 17 /CNW/ - Monexa Technologies Corp. (TSX-Venture: MXA) ("Monexa" or the "Company") is pleased to announce that, further to the Company's news release of October 9, 2009, it has formally closed its non-brokered private placement and raised gross proceeds of $250,000.

John Jacobson, President and CEO, said "This financing funds marketing and sales for our industry-leading on-demand billing platform. Monexa's subscription billing removes the barriers imposed by traditional order entry, invoicing and accounts receivable systems that were never intended to support flexible pricing, bundling and marketing for subscription products. With our monetization platform plugged into a client's finance, marketing and operations systems, they can run their subscription business their way."

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 $0.12 per Share (the "Offering"). The Company has also issued 999,998 common share purchase warrants (the "Warrants") in connection with the Offering, each of which will entitle Investors to acquire a common share of the Company at a price of $0.36 until August 7, 2014. The Shares and Warrants, as well as any common shares issued on conversion of the Shares or exercise of the Warrants, are subject to a four month hold period expiring on March 18, 2010.

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 December 31 of each year. The Shares are convertible at the Investor's option into common shares of the Company on a 1:1 basis. After February 7, 2011 the Company may elect to convert the Shares into common shares if: (a) the closing price of the common shares is at a price greater than $0.40 per share for a period of 30 consecutive trading days, and (b) the total trading volume over such period is greater than 20% of the common shares issued and outstanding at the beginning of such period, excluding all common shares of the Company held by Pender Growth Fund (VCC) Inc. and by Pender Financial Group Corporation. The terms of the Shares provide that they are redeemable at the original issue price, plus accrued and unpaid dividends (the "Redemption Price"), on or after August 7, 2014 or on the occurrence of a change of control, consolidation, amalgamation or merger of the Company, a sale of substantially all of the Company's assets or undertaking, or a liquidation, winding-up or dissolution of the Company.

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 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

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

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