AdEx Media Closes $2.3 Million Private Placement

(Comment on this article at http://www.financialwire.net/2009/06/15/adex-media-closes-23-million-private-placement/)

June 15, 2009 (FinancialWire) -- AdEx Media, Inc. (OTCBB: ADXM) (Current Market Cap: $50.61 Mil.) has closed a private placement financing in which the company raised more than $2.3 million through the issuance of series A preferred stock and warrants.

The financing included a sale of 1,951,337 shares of series A preferred stock at $1.20 per share for total proceeds of $2,341,604. It also included warrants to purchase an aggregate of 975,668 shares of the company's common stock at an exercise price of $1.56 per share.

AdEx Media plans to use the proceeds from the Financing to expand its proprietary consumer product offerings, diversify its marketing platforms and services and for ongoing working capital requirements.

Mountain View, California-based AdEx Media is an internet marketing and consumer product company with a focus on both marketing and distributing its own products and offering advertising customers a multi-channel internet advertising, publishing and lead generation network.

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