TORONTO, Jan. 04, 2018 (GLOBE NEWSWIRE) -- Advantex Marketing International Inc. (CSE:ADX)
(“Advantex” or the “Company”), a leading specialist in the marketing services industry, today
announced it has renewed its credit facility with Accord Financial Inc.
The renewed agreement is for a multi-year term ending in December 2021 and allows for automatic renewal
thereafter for periods of one year unless either party gives termination notice.
The credit facility has a limit of $8.5 million. The current utilization by the Company is about $4.2 million.
The renewed and enhanced credit facility together with the access to additional working capital following completion of the
recently announced restructuring will have a positive impact on the Company. The working capital will be used in the transition to
the next phase of recovery of the Company’s core business during which it expects a gradual but sustained growth in its CIBC/TD
program merchant base and related revenues.
The renewed agreement also carries more beneficial terms, effective immediately, in terms of interest rate and
margin funding formula.
Accord Financial Inc. is a subsidiary of Accord Financial Corp. (TSX:ACD) and has been a valued partner to the
Company since 2007. Accord Financial Corp. is one of North America’s leading independent finance companies that provide
distinctive working capital solutions to small and medium-sized companies across the United States and Canada.
About Advantex Marketing International Inc.
Advantex provides specialized marketing programs that enable members of affinity groups to earn frequent-flyer
miles and other loyalty rewards through purchases at participating merchants.
Through partnerships with Aeroplan, Toronto-Dominion Bank, Canadian Imperial Bank of Commerce and Caesars
Entertainment, Advantex has contractual access to millions of consumers with above-average personal and household income. Advantex
also has partnerships with over 1,000 merchants in Canada and the US.
Advantex shares trade on the Canadian Securities Exchange under the symbol ADX. For more information, go to
www.advantex.com.
Forward-Looking Information
This news release contains “forward-looking statements” within the meaning of applicable securities laws
relating to the future business and operations of Advantex. Readers are cautioned not to place undue reliance on those
forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements. The
business and operations of Advantex described herein is dependent on a number of factors and is subject to a number of risks and
uncertainties. Factors that could cause actual results to differ material include, but are not limited to, changes in Advantex’s
economic and competitive conditions relating to the industry sectors in which Advantex operates.
The statements in this news release are made of the date of this release. Forward-looking statements are
made based on management’s beliefs, estimates and opinions on the date the statements are made and Advantex undertakes no
obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change,
except as required by applicable law.
For further information please contact:
Mukesh Sabharwal
Vice-President and Chief Financial Officer
Tel: 905-470-9558 ext. 249
Email: Mukesh.Sabharwal@advantex.com
