MXA Monexa Technologies Corp

VANCOUVER, Oct. 24, 2011 /CNW/ - Monexa Technologies Corp. ("Monexa" or the "Company")  announces an update on the status of its financing activity. Further to the Company's news release of July 5, 2011, the Company wishes to advise that it will not be proceeding with the financing on the terms that were announced.  The Company remains active in examining alternative funding and continues to work with M Partners Inc. and Versant Partners Inc.. The Company also discloses the following: 1. Pender Growth Fund (VCC) Inc., the Company's largest shareholder, has provided a demand loan to the Company in the amount of $100,000 secured by a promissory note. 2. Ansera Capital II Limited Partnership and Ansera Capital II L.P. have agreed to extend the repayment date of their loan with the Company from September 30, 2011 to no later than November 30, 2011. 3. The Company has extended the date of its AGM, to be held no later than February 24, 2012. 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 throughout North America. 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. Monexa Technologies Corp. CONTACT: Contact:Garth Albright, CFOD 604-630-5657 / E ir@monexa.com

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