Monexa Technologies Corp. Announces Closing of Private Placement
14 Enero 2011 - 5:22PM
PR Newswire (Canada)
VANCOUVER, Jan. 14 /CNW/ -- VANCOUVER, Jan. 14 /CNW/ - Monexa
Technologies Corp. (TSX-Venture: MXA) ("Monexa" or the "Company")
is pleased to announce that it has closed its previously announced
non-brokered private placement (the "Private Placement"). A total
of 8,910,000 units of the Company (the "Units") were issued at the
price of $0.05 per Unit to raise gross proceeds of $445,500.00.
Each Unit consists of one common share of the Company (a "Share")
and one-half of one transferable common share purchase warrant,
each whole warrant (a "Warrant") entitling the holder to purchase
one additional 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 paid a
finder's fee to an eligible arm's length party in connection with
services provided in the Private Placement, consisting of a cash
commission of 8% of the gross proceeds received from the sale of
the Units, and non-transferable finder's warrants (the "Finder's
Warrants") equal to 8% of the Units sold, to subscribers introduced
to the Company by the finder. A cash commission of $34,840.00
was paid and 696,800 Finder's Warrants were issued, having the same
terms as the Warrants. The Shares, Warrants and Finder's Warrants,
as well as any Shares issued on exercise of the Warrants or the
Finder's Warrants, are subject to a four month hold period expiring
on May 15, 2011. The net proceeds from the Private Placement will
be used to bridge Monexa's operational requirements as it continues
to grow its SaaS billing business targeting companies with
subscription and other recurring billing needs. Mr. E. Graeme May
announces that he has acquired ownership and control of 4,410,000
Units in the Private Placement for the aggregate subscription price
of $220,500. Prior to the completion of the Private Placement, Mr.
May beneficially owned a total of 10,000 common shares of the
Company, representing approximately 0.028% of the Company's then
issued and outstanding common shares. Following the acquisition of
an aggregate of 4,410,000 Shares and 2,205,000 Warrants, Mr. May
beneficially owns a total of 4,420,000 common shares of the Company
and 2,205,000 Warrants, which represents approximately 9.92% of the
Company's issued and outstanding shares on a non-diluted basis, or
14.17% of the Company's issued and outstanding shares calculated on
a partially-diluted basis assuming exercise of the Warrants held by
Mr. May. Mr. May acquired the Units for investment purposes, and he
intends to evaluate the investment in Monexa and to increase or
decrease his shareholdings as he may determine for investment
purposes. A copy of the Early Warning Report being filed with the
applicable securities regulators regarding the transaction will be
available on SEDAR (www.sedar.com) and may be obtained by
contacting Mr. May at 604-659-8011. 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/January2011/14/c2793.html
pGarth Albright, CFO of Monexabr/ D 604.630.5657br/ bE/ba
href="mailto:ir@monexa.com"ir@monexa.com/a/p pE. Graeme Maybr/
Suite 402 - 1440 Creekside Drivebr/ Vancouver, British Columbiabr/
V6J 5B6/p
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