Monexa Technologies Corp. Announces Non-Brokered Private Placement

VANCOUVER, Nov. 23 /CNW/ - Monexa Technologies Corp. (TSX-Venture: MXA) ("Monexa" or the "Company") is pleased to announce a non-brokered private placement of up to 4,583,334 of 10% convertible preferred shares (the "Shares") of the Company at a price of $0.12 per Share (the "Offering") for gross proceeds of up to $550,000. The Company expects to issue up to 2,200,000 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.

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 will be convertible at the Investors' option into common shares of the Company on a 1:1 basis. After February 07, 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 Shares will be redeemable at the original issue price, plus accrued and unpaid dividends, on or after August 7, 2014. Investors will have a pro-rata right to participate in subsequent equity or debt financings, to maintain their percentage equity ownership of the Company.

The Offering is subject to the approval of the TSX Venture Exchange. The Closing is expected to occur on or about December 15, 2009. The Shares, and any common shares issued on conversion thereof, as well as any warrant shares issued on exercise of the Warrants, will be subject to a four month hold period.

Monexa intends to use the net proceeds for working capital necessary to advance its development and marketing initiatives in respect of the rapidly expanding Software-as-a-Service ("SaaS") markets.

About Monexa

Monexa pioneered the on-demand subscription billing space and over the past 11 years has worked with hundreds of businesses to help monetize their services. Monexa's monetization platform removes the barriers imposed by traditional systems and plugs directly into a client's finance, marketing and operations, enabling them to run their subscription business their way. Monexa operates out of Vancouver, B.C. and serves customers including AOL Canada, Sprint, Amway and Bell Mobility among others. 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.

SOURCE MONEXA TECHNOLOGIES CORP.

For further information: For further information: John Bean, CFO, D (604) 630-5657, E ir@ipapplications.com

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MONEXA TECHNOLOGIES CORP.

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