Advantex Announces Fiscal 2017 Second Quarter Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 02/27/17 -- Advantex Marketing International Inc. (CSE: ADX), a specialist in marketing loyalty-reward programs, announced its results for the three and six months ended December 31, 2016.
In December 2016 the Company reached agreement to extend maturity date of its 12% debentures to March 31, 2017 from December 31, 2016. The Company is working with its exclusive financial advisor to refinance the 12% debentures and seek growth funds to capitalize on expansion opportunities.
During the period the Company''s focus was to stabilize operations in an environment where it has limited access to working capital.
Highlights of results for three and six months ended December 31, 2016 are set out in the table (1). Additional details are available in the Consolidated Financial Statements and the Management Discussion and Analysis available under the Company''s profile on .
(1) The tabulation is a non-GAAP presentation and is provided to assist readers in understanding the Company''s financial performance. The information is extracted from consolidated financial statements for the three and six months ended December 31, 2016.
About Advantex:
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 our partnerships with Aeroplan, Toronto-Dominion Bank, Canadian Imperial Bank of Commerce and Caesars Entertainment, we have contractual access to millions of consumers with above-average personal and household income. We also have partnerships with over 1,200 merchants in Canada and the US.
Advantex shares trade on the Canadian Securities Exchange under the symbol ADX. For more information, go to .
Economic and Financial dependence (note 2a), Going concern (note 2b), Commitments and contingencies (note 12)
The accompanying notes are an integral part of these consolidated financial statements
Approved by the Board
Director: William Polley
Director: Kelly Ambrose
The accompanying notes are an integral part of these consolidated financial statements
Contacts:
Mukesh Sabharwal
Vice-President and Chief Financial Officer
905-470-9558 ext. 249
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Datum: 27.02.2017 - 17:04 Uhr
Sprache: Deutsch
News-ID 1489350
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Advertising, PR and Marketing
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