Cenit announces Shares for Debt Agreement.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 (Carbon NanoTube) See nanotube. ) - Debt for Shares Conversion Cenit Corporation (the "Company") is pleased to announce that it has received approval from a former employee of the Company to convert invoices outstanding in the amount of $57,000 into Common Shares of the Company at the rate of $0.285 per Share. Conditional upon 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. approval of the Shares for Debt transaction, the Company will issue a total of 200,000 Common Shares, which Shares will be subject to a four-month hold period. 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 its line of "Break Open Tickets". Share Price: $0.33 (Feb 8, 2005) Shares Outstanding: 12,570,594 Cenit Corporation (TSX VENTURE:CNT) |
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