Advantex Announces Amendments to Debentures

TORONTO, July 7, 2022 /CNW/ - Advantex Marketing International Inc. (CSE: ADX) ("Advantex"), a leader in the merchant cash advance and loyalty marketing products for merchants, announced it has obtained approval from holders of its 9% Senior Secured Non Convertible Debentures ("Debentures"), in the principal aggregate amount of $7,159,000, to re-set financial covenants from June 30, 2022 quarter until quarter ending June 30, 2023, waive breach of certain financial covenants at quarters ended December 31, 2021 and March 31, 2022, and defer the interest due September 2022 where the deferred interest shall be paid in seven equal instalments along with the regularly scheduled semi-annual interest payments due over the remaining term of the Debentures

About Advantex:

Advantex provides working capital to merchants. Advantex also provides specialized marketing programs that enable members of Aeroplan to earn Aeroplan points at participating merchants.

Advantex shares trade on the Canadian Securities Exchange under the symbol ADX. For more information go to Advantex's profile on www.sedar.com

SOURCE Advantex Marketing International Inc.

Mukesh Sabharwal, Vice-President and Chief Financial Officer, Tel: [phone], Email: [email protected]