Advantex Announces Amendments to Debentures
TORONTO, July 7, 2022 /CNW/ – Advantex Marketing International Inc. (CSE: ADX) (“Advantex”), a leader in cash advance and loyalty marketing products for merchants, announced that it has received approval of the holders of its 9% senior secured non-convertible debentures (“Debentures”), in the aggregate principal amount of $7,159,000to reset the financial covenants of June 30, 2022 quarter until the end of the quarter June 30, 2023waive the violation of certain financial covenants in the quarters ended December 31, 2021 and March 31, 2022and defer interest due September 2022 wherein the deferred interest will be paid in seven equal installments with the regular semi-annual interest payments due over the remaining term of the debentures
Advantex provides working capital to traders. Advantex also offers specialized marketing programs that allow Aeroplan members to earn Aeroplan points at participating merchants.
Advantex shares trade on the Canadian Stock Exchange under the symbol ADX. For more information, visit the Advantex profile at www.sedar.com
SOURCEAdvantex Marketing International Inc.
For further information: Mukesh Sabharwal, Vice President and Chief Financial Officer, Tel. : 416-560-5173, Email: [email protected]