By Sheri Kasprzak
New York, Oct. 27 - Advantex Marketing International Inc. priced a private placement for up to C$6.5 million and at least C$6 million in secured convertible debentures.
The 10% debentures are due April 2011 and are convertible at C$0.10 each.
Notre-Dame Capital Inc. and Trapeze Capital Corp. will be the placement agents in the offering.
As part of the deal, C$3,975,000 in principal of existing convertible debentures will be rolled over into the new debentures and the additional proceeds will be used for the company's marketing program and for working capital.
Toronto-based Advantex is a marketing services company.
| Issuer: | Advantex Marketing International Inc.
|
| Issue: | Secured convertible debentures
|
| Amount: | C$6.5 million (maximum); C$6 million (minimum)
|
| Maturity: | April 2011
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | C$0.10
|
| Warrants: | No
|
| Placement agents: | Notre-Dame Capital Inc. and Trapeze Capital Corp.
|
| Pricing date: | Oct. 27
|
| Stock symbol: | Toronto: ADX
|
| Stock price: | C$0.055 at close Oct. 27
|
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