TORONTO, ONTARIO--(Marketwired - Oct. 16, 2013) - Advantex Marketing International Inc. (CNSX:ADX) ("Advantex"), a leading specialist in marketing services industry, today announced that it has renewed its agreement with Accord Financial Inc.(Accord) a subsidiary of Accord Financial Corp. (TSX:ACD) for a one year term expiring in December, 2014.
Under the agreement, Advantex will continue to have access to a credit facility with a limit of $8.5 million. Advantex will continue to use the credit facility solely to expand its Advance Purchase Marketing (APM) program.
Under its APM program Advantex provides marketing, loyalty services, and also pre-purchases future designated credit card sales at a participating merchant. In this program Advantex acquires the rights to future designated credit card transactions at a discount from the face value. The spread between the future credit card transactions and the costs to acquire the rights (transaction credits) represents the revenue that Advantex will ultimately earn. The revenue is recognized, on a pro-rata basis, at the time a consumer makes a purchase, using designated credit card, from a participating merchant enrolled in this program. Proceeds from the customer transactions on designated credit cards is received by Advantex and a predetermined portion is applied to reduce the transaction credits balance that the merchant owes.
About Advantex Marketing International Inc.
Advantex is a specialist in the marketing services industry. Advantex partners with CIBC, and Aeroplan. On a combined basis, Advantex has contractual marketing access to more than five million Canadian consumers with above-average personal and household income. Advantex's merchant partner base currently consists of about 2,000 merchants operating restaurants; golf courses; independent inns, resorts and selected hotels; spas; retailers of men's and ladies fashion, footwear and accessories; retailers of sporting goods; florists and garden centres; book and newspaper stores; health and beauty centres; dry cleaners; gift stores; home décor; automotive dealers, service centers; and tire dealerships; many of which are leaders in their respective categories.
Advantex is traded on the Canadian National Stock Exchange under the symbol "ADX". For additional information on Advantex, please visit www.advantex.com.