MXA Monexa Technologies Corp

VANCOUVER, Dec. 8, 2011 /CNW/ - Monexa Technologies Corp. ("Monexa" or the "Company")  announces the appointment of John Swift as Director of Monexa Technologies Corp and an update on the status of its financing activity. New Director: Monexa is pleased to announce that John Swift has joined the Board of Directors of Monexa.  John Swift is a lawyer in Vancouver, British Columbia, with an independent practice centered on organizing, financing and advising knowledge-based businesses and on the transfer of technology from public institutions and universities. From 1984 to 1986 Mr. Swift was Principal Secretary and Chief of Staff to the Prime Minister and to the Leader of the Opposition, Government of Canada, and from 1973 to 1975, Executive Assistant to the Minister of Finance, Government of Canada. A native of Montreal, John studied at Bishop's University, the Univeristé de Dijon and in the Faculty of Law at the University of British Columbia. Currently Chairman of the Central City Foundation and a Trustee of the Vancouver Public Library, Mr. Swift is a director of Connotative Intelligence Corporation and has served on numerous Boards of Directors including Inex Pharmaceuticals, Ultrasonix Medical Corporation, NeuroMed Technologies, Webnames Inc., Spark Integration, the National Arts Centre in Ottawa and Arts Umbrella. Financing Update: Ansera Capital II Limited Partnership and Ansera Capital II L.P. have entered into a Forbearance Agreement with Monexa to allow the Loan that was to be repayable on November 30, 2011 to remain outstanding to December 22, 2011 or later if a further extension is granted by the Ansera Capital II Limited Partnership and Ansera Capital II L.P. About Monexa Technologies Corp. Monexa pioneered the on-demand subscription billing space and has worked with hundreds of businesses to help monetize their services. A deep skill-base and leadership in subscription billing sets Monexa apart from other service providers and attracts established customers throughout North America. Monexa's customers range in size from high-growth SaaS and Cloud Infrastructure companies to large household-name companies like AOL Canada, Sprint, Amway and Bell Mobility. Monexa provides companies the freedom to market their services through creative pricing plans by removing barriers imposed by traditional billing and payments processes. Monexa stands for rapid, dependable monetization of all subscription services. For more information visit www.monexa.com. Forward-Looking Statements This news release contains forward-looking statements. Actual events or results may differ materially from those described in the forward-looking statements due to a number of risks and uncertainties, including changes in financial and product market conditions. Forward-looking statements are based on management's estimates, beliefs, and opinions. The Company assumes no obligation to update forward-looking statements, other than as may be required by applicable law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Monexa Technologies Corp. CONTACT: Garth Albright, CFOD 604-630-5657 / E ir@monexa.com

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