ADVANTEX Issues Warrants in Connection with Amendments to Certain Convertible Debentures
1/13/2009 12:00:00 AM
Advantex Issues Warrants in Connection With Amendments
Toronto, January 13, 2009 - Advantex Marketing International Inc. (“Advantex” or the “Company”) (TSX: ADX), a leading specialist in merchant funding and loyalty marketing programs, announces that it has issued an aggregate of 9,853,685 common share purchase warrants of the Company (“Warrants”) in connection with the changes to certain covenants of the secured convertible debentures of the Company (the “Debentures”) due December 9, 2011, as amended (the “Private Placement”), announced in its news release dated September 25, 2008. Such changes include amendments to certain financial covenants relating to defined levels of current assets and interest coverage.
Each Warrant is exercisable to acquire one common share of Advantex at $0.045 per share until December 9, 2011. An additional 136,315 Warrants have been authorized for issuance in connection with the Private Placement pending the receipt by Advantex of certain required documentation.
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 700 restaurants, online retailers, golf courses, small inns and resorts, and major organizations, including CIBC, United Airlines, Alaska Airlines, and Lufthansa Airlines. Advantex is traded on the Toronto Stock Exchange under the symbol "ADX". For additional information on Advantex, please visit www.advantex.com.
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