Cenit Corporation Announces Letter of Intent.TORONTO -- Cenit Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CNT) (the "Company") is pleased to report that it has entered into a Letter of Intent with a privately owned 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. (ATM) service company (ServiceCo). ServiceCo provides care and maintenance services to over twenty (20) ATM Vendors which own and manage more than 1,000 ATM's across Canada. "We view this prospective acquisition as an integral step in our expansion process" 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. . "this is a synergistic acquisition for Cenit as it will provide customer coverage from coast to coast and put Cenit in contact with more potential ATM acquisition targets. We are extremely pleased to have executed the Letter of Intent and are hopeful we can consummate a deal in the near term. Our investment in this organization is consistent with our strategic plan for growing our ATM presence across the country." About Cenit Corporation The Company 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. HPSI is a registered gaming equipment supplier providing fundraising services to 150 charitable organizations through the distribution of the "Break Open Tickets" line of charity lottery tickets. Share Price: $0.31 (Jan 19, 2005) Shares Outstanding: 12,345,594 "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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