Cenit Corporation Announces Intent to Acquire Dijoto Inc.TORONTO -- Cenit Corporation (the "Company") (TSX VENTURE:CNT) is pleased to announce that it has entered into a Letter of Intent to acquire a majority interest in Dijoto Inc. ("Dijoto"); a privately owned electronic payment transaction management company. Dijoto's unique proprietary transaction management system provides a comprehensive software based software transaction solution for Point of Sale terminals, video arcade installations and other multiple E Commerce applications. Additionally the software is a solution that provides payment, collection and reporting services to all sectors especially those which rely on royalty or revenue splitting. "The Dijoto system, is currently in use by commercial clients and is poised for expansion through its relationship with Cenit Corporation. The Dijoto system not only automatically directs the flow of funds Flow of funds In the context of municipal bonds, refers to the statement displaying the priorities by which municipal revenue will be applied to the debt. In the context of mutual funds, refers to the movement of money into or out of a mutual funds or between or among associated with an electronic payment, but provides real time reporting and audit functions as well. Dijoto represents an opportunity for us to assume a leading position in the large and growing electronic transaction management business." said Birks Bovaird President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . About Cenit Corporation The Company is currently assessing a number of potential acquisition opportunities in the point of sale and automated teller machine automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. areas and operates two subsidiary companies; Continental Asset Management Inc. (CAM) and Health Promotions Strategies Inc. (HPSI HPSI High Pressure Safety Injection HPSI Human-Ported System Interface ). CAM operates white label Automated Teller and Point of Sale Machines and is a preferred supplier of Ingenico Canada Ltd.; a 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. of one of the world's largest manufacturers of debit and credit point of sale systems hardware. Share Price: $0.32 (Mar 21, 2005) Shares Outstanding: 12,810,594 "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 adequacy or accuracy of this release" Cenit Corporation (TSX VENTURE:CNT) |
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