Pay Linx Financial Corporation announces closing of convertible debenture issuance to Royal Bank of Canada

    TSX Venture Exchange Symbol: PIN

    EDMONTON, Sept. 14 /CNW/ - Pay Linx Financial Corporation ("Pay Linx" -
TSXV: PIN) announces the closing of its non-brokered private placement to
Royal Bank of Canada ("RBC") of a convertible, unsecured debenture in the
principal amount of $1.5 million (the "Debenture"), previously announced on
September 12, 2007. The Debenture will mature on September 14, 2009 (the
"Maturity Date") and no interest will accrue on the principal amount until the
Maturity Date. Until the Maturity Date, the principal amount of Debenture will
be convertible into common shares in the capital of Pay Linx (the "Common
Shares") at the option of RBC at a conversion price per Common Share which is
the greater of $0.30 or 80% of the market price of the Common Shares on the
conversion date.
    The Debenture and the Common Shares underlying the Debenture are subject
to a four-month hold period.

    About Pay Linx

    Pay Linx delivers affordable, accessible and contemporary payment
processing services that integrate seamlessly into North America's existing
financial systems for financial institutions and their/our corporate and
government clients. Pay Linx is 25% owned by Royal Bank of Canada. Pay Linx is
in the business of processing and managing stored value cards (SVC), and its
cornerstone Application Service Provider product is a Prepaid Debit Card
solution. Pay Linx partners with the best in the industry, securing
relationships with established, reliable partners with broad market reach and
utilizing contemporary ATM, Point of Sale (POS) and online technology. As a
result, we set the industry standard for security, affordability and user

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    Certain statements contained herein may constitute forward-looking
statements. These statements relate to future events or our future
performance. All statements other than statements of historical fact may be
forward-looking statements. Forward-looking statements are often, but not
always, identified by the use of words such as "seek", "anticipate", "plan",
"continue", "estimate", "expect", "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should", "believe" and
similar expressions. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in such forward-looking statements.
We believe that the expectations reflected in the forward-looking statements
are reasonable based upon management's current views but no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements should not be unduly relied upon. No assurance can
be given that actual results, performance or achievement expressed in, or
implied by these forward-looking statements will occur, or if they do, that
any benefits may be derived from them. Past results have been applied in
drawing a conclusion or making a forecast or projection set out in the
forward-looking information.

For further information:

For further information: Ian McNeill, President and CEO, Pay Linx
Financial Corporation, Tel: (780) 702-4710, Email:,; Marshall Rosichuk, CMA, CFO, Pay Linx Financial Corporation,
Tel: (780) 702-4702, Email:,

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