TORONTO, ONTARIO -- (Marketwired) -- 07/05/13 -- Advantex Marketing International Inc. (CNSX: ADX) (Advantex or the Company) announced today that its Board of directors has approved a change of the Company's auditors. At the request of the Company, PricewaterhouseCoopers LLP (the Former Auditor) has resigned as auditor of the Company effective July 4, 2013. The audit committee and board of directors of the Company have appointed BDO Canada LLP as the successor auditor, effective July 4, 2013 (the Successor Auditor).
The Company has sent a Notice of Change of Auditor (the Notice) to the Former Auditor and to the Successor Auditor and has received a letter from each, addressed to the securities commissions in each of Alberta, British Columbia, Ontario and Quebec, stating that they agree with the information contained in the Notice. The Notice together with the letter from the Former Auditor and the letter from the Successor Auditor have been reviewed by the Company's audit committee and its Board of directors and are available on www.sedar.com.
There were no disagreements or unresolved issues with the Former Auditor on any matter of audit scope or procedures, accounting principles or policies, or financial statement disclosure. It is the Company's opinion that there have been no "reportable events" (as defined in National Instrument 51-102 Continuous Disclosure Obligation) between the Company and the Former Auditor. The Former Auditor did not provide a modified opinion in their auditor's report for the financial statements of the Company fiscal years ended June 30, 2012 and June 30, 2011.
About Advantex Marketing International Inc.
Advantex is a specialist in the marketing services industry. Advantex partners with Canadian Imperial Bank of Commerce (CIBC), and Aeroplan Canada Inc. (Aeroplan). On a combined basis, Advantex has contractual marketing access to more than five million Canadian consumers with above-average personal and household income. The Company'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 decor; 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.
Contacts:
Advantex Marketing International Inc.
Mukesh Sabharwal
Vice-President and Chief Financial Officer
905-470-9558 ext. 249
Mukesh.sabharwal@advantex.com
www.advantex.com
