Advantex Marketing International (TSE:ADX) has released an update.
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Advantex Marketing International Inc. has successfully negotiated amendments with its debenture holders, allowing for a deferral of interest payments due in September 2024 and adjustments to the financial covenants for mid and late 2024. The $7.759 million in debentures will now have the deferred interest paid in three equal installments over the remaining term, with a maturity date of December 31, 2025. This strategic move aids the company in managing its capital and fortifies its commitment to providing merchant cash advances and loyalty marketing products.
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