MXA Monexa Technologies Corp

VANCOUVER, July 5, 2011 /CNW/ -- VANCOUVER, July 5, 2011 /CNW/ - Monexa Technologies Corp. (TSX Venture: MXA) ("Monexa" or the "Company") is pleased to announce that it has entered into an agreement with M Partners Inc. and Versant Partners Inc. (together, the "Agents") to act as agents, on a best efforts basis, for a brokered private placement (the "Offering") of up to 23,076,923 units (the "Units") at $0.13 per Unit for aggregate gross proceeds to the Company of up to $3,000,000. Each Unit will consist of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant").  Each Warrant will entitle the holder thereof to acquire one Common Share of the Company at an exercise price of $0.20 per Common Share for a period of 12 months from the closing date. The net proceeds from the Offering will be used by the Company for working capital and general corporate purposes. In connection with the Offering, a cash commission of 7% of the aggregate gross proceeds arising therefrom will be paid to the Agents.  In addition, upon closing of the Offering, the Agents will receive such number of non-transferable warrants (the "Compensation Warrants"), equal to 7% of the total number of Units issued in connection with the Offering.  Each Compensation Warrant will be exercisable at a price of $0.13 for a period of 24 months from the closing date to acquire one Common Share of the Company. The Offering is subject to the approval of the TSX Venture Exchange.  Securities issued in the Offering will be subject to a hold period of four months and one day pursuant to applicable securities laws. 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/July2011/05/c3378.html p Garth Albright, CFObr/ D 604-630-5657 / bE /ba href="mailto:ir@monexa.com"ir@monexa.com/a /p

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