Continental Announces TSX Venture Exchange Final Approval Of Shares For Debt Agreement And Grant Of Options.TORONTO -- Shares for Debt Agreement Continental Cash Technologies Corporation (the "Company") is pleased to announce that further to News Releases dated September 10, 2004 and October 5, 2004 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. has given Final Approval of the conversion of Shares for Debt with certain debt holders of the Company. A total of $643,350 of which $245,000 is held by Insiders, has been converted into Common Shares of the Company at the rate of $0.15 per share for an issuance of 4,289,001 Common Shares. Of the Common Shares issued pursuant to the above 2,122,334 Common Shares are subject to a four month hold from the date of issuance and 2,166,667 Common Shares are subject to a one year hold period such that 40% of the shares will be released four months after their issuance with an additional 20% to be released on each of the six, nine and twelve month anniversaries of the date of issuance. The shares for debt transaction marks the completion of a crucial phase of the Company's re-structuring plans and, together with other debt reduction initiatives has allowed the Company to reduce long term and trade debt payable from approximately $1.25 million as of May31, 2004 to approximately $350,000 as of the date hereof. "We would like to thank everyone associated with the debt conversion process and appreciate their vote of confidence in the Company. This significant debt reduction, together with initiatives designed to streamline operations and increase sales revenues, allow the Company to focus on potential acquisitions in both the 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. and Point of Sale division and the Charity Lottery Tickets division" said President, Birks Bovaird. Options to Purchase Common Shares The Company has granted, subject to regulatory and shareholder approval, 100,000 Options to Purchase common shares to an Officer of the Company and 50,000 Options to Purchase Common Shares to a Consultant to the Company. The Options have an exercise price of $0.15 per Share and will expire five years form the date of shareholder approval anticipated at the Company's Annual General and Special Meeting December 15, 2004. About Continental Cash Technologies Corp. 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 TELLER. An officer in a bank or other institution. He is said to take that name from tallier, or one who kept a tally, because it is his duty to keep the accounts between the bank or other institution and its customers, or to make their accounts tally. 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 This article is about charitable organizations. For other uses of the word charity, see Charity. A charitable organization (also known as a charity) is an organization with charitable purposes only. through its line of "Break Open Tickets". Share Price: $0.18 (Nov 2, 2004) Shares Outstanding: 12,345,594 Continental Cash Technologies Corp. (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. ) |
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