Cenit Closes Private Placement.TORONTO -- E[acute accent acute accent n. A mark (´) indicating: a. that a vowel is close or tense, as é in French été. b. that a vowel or syllable has a high or rising pitch, as in Chinese or Ancient Greek. c. ]Private Placement E[acute accent]Cenit Corporation ("the Company")(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CNT (Carbon NanoTube) See nanotube. )(PINK SHEETS:CNTGF) announced today the closing on October 11, 2005 of a non-brokered Unit private placement. Under the offering the Company raised $240,000. Units were priced at $0.20 and consist of one common share and one common share purchase warrant exercisable at $0.25 for a term of 24 months from closing. Proceeds will be used to fund working capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. for the Company and its recently acquired subsidiary: Blue Port Technologies Inc. ("Blue Port"). E[acute accent]Blue Port is an Enterprise Software and IT Services company under the leadership of Paul Sleight, an IT and software applications professional with close to 40 years experience. Blue Port currently owns three wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. companies. Please see www.blueportinc.ca for more information. E[acute accent]Minds 4 Vision E[acute accent]The Acentrix Data Analysis Suite is a strategic decision support and marketing data analysis application. The product is currently licensed from Minds 4 Vision to Rogers Cable Rogers Cable Inc., a subsidiary of Rogers Communications Inc., is Canada's largest cable television service provider with about 2.25 million television customers, and over 930,000 Internet subscribers, in Southern Ontario, New Brunswick and Newfoundland and Labrador. . Acentrix is designed to process extremely large amounts of data quickly and is a perfect solution for direct marketing organizations and companies with or servicing large customer bases and large customer lists. E[acute accent]Synergy Solutions E[acute accent]Focused on the expanding Health Care industry, currently installed in 20 hospitals in Ontario, one of Synergy Solutions' key offerings is mobile computing Using a computing device while in transit. Mobile computing implies wireless transmission, but wireless transmission does not necessarily imply mobile computing. Fixed wireless applications use satellites, radio systems and lasers to transmit between permanent objects such as buildings point-of-care which provides health care professionals with patient information at the patient bedside. E[acute accent]Eagle Consulting Group E[acute accent]Eagle Consulting is a consulting and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. company focused on Business Process Management. As the consulting division of Blue Port, Eagle has strong technical expertise ranging from Legacy to state of the art internet and wireless competencies. The combined experience of the 20 person team, which has worked together for close to twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. , provides industry expertise in the areas of business process management, project management, marketing and architecting technology solutions. E[acute accent]Summary E[acute accent]"Blue Port has and will continue to identify private companies in the IT and software applications field that offer unique, "value-based" enterprise software and services. Blue Port sees a large number of potential acquisitions and is in an excellent position to choose those companies that are determined to have the greatest synergistic fit with the Blue Port family. As a subsidiary of Cenit we will provide a centralized operating infrastructure, sales and marketing support, and access to the financial markets. We look forward to a long and profitable relationship as part of the Cenit team" said Paul Sleight. E[acute accent]J. Birks Bovaird, President of Cenit added "We're pleased to have completed both the private placement and the Blue Port acquisition. As our re-structuring of the Company is largely complete, we can now focus on building shareholder value through both internal growth and acquisitions". E[acute accent]About Cenit Corp. E[acute accent]Cenit Corporation is a Canadian holding company with three subsidiary operating companies: Blue Port Technologies Inc. (BP), Continental Asset Management Inc. (CAM) and Health Promotions Strategies Inc. (HPSI HPSI High Pressure Safety Injection HPSI Human-Ported System Interface ). BP is an Enterprise Software and IT Services company. CAM is a vendor of point of sale systems hardware. HPSI is a registered gaming supplier providing fundraising services to 150 charitable organizations through the distribution of "Break Open Tickets" charity lottery tickets. HPSI sees the Tickets business as ripe for consolidation and is currently looking at acquisitions in this area. E[acute accent]Shares Outstanding: 15,109,261 E[acute accent] E[acute accent]"The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the a dequacy or accuracy of this release" E[acute accent]Cenit Corporation (TSX VENTURE:CNT) (PINK SHEETS:CNTGF) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion