MXA Monexa Technologies Corp

VANCOUVER, Jan. 7 /CNW/ -- VANCOUVER, Jan. 7 /CNW/ - Monexa Technologies Corp. (TSX-Venture: MXA) ("Monexa" or the "Company") is pleased to announce a non-brokered private placement of up to 10,000,000 units of the Company at the price of $0.05 per unit to raise gross proceeds of up to $500,000 (the "Private Placement"). Each unit consists of one common share of the Company and one-half of one transferable common share purchase warrant, each whole warrant entitling the holder to purchase one additional common share of the Company at a price of $0.10 for the first twelve months and $0.15 for the second twelve months from the date of closing of the Private Placement. The Company has agreed to pay a finder's fee consisting of a cash commission of 8% of the gross proceeds received from the sale of the units and finder's warrants equal to 8% of the units sold to subscribers. The closing of the Private Placement is subject to the approval of the TSX Venture Exchange. Garth Albright, CFO of Monexa, said, "The capital from the Private Placement will be used to bridge Monexa's operational requirements as we continue to grow our SaaS billing business targeting companies with subscription and other recurring billing needs." 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 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. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/January2011/07/c9222.html pGarth Albright, CFO/ John Jacobson, CEObr/ D 604.630.5657/D 604-630-5661br/ bE/ba href="mailto:ir@monexa.com"ir@monexa.com/a/p

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