Neotel To Settle Debt With Shares.MARKHAM, Ontario -- Neotel International Inc. ("Neotel")(TSX VENTURE:NIT nit (nit) the egg of a louse. nit (n  t)n. ), and its President, Mr. Howard Phee announces that it has reached an agreement, subject to regulatory approval, with an arm's length supplier of products for its discontinued operations, to settle a debt of $55,000 by the issuance of 183,333 common shares of stock of the Company at a deemed value of $0.30 per share. The egg or young of a parasitic insect, such as a louse. The Company is presently completing the application for filing with TSX Venture Exchange for approval to complete this transaction. ABOUT NEOTEL Neotel is a provider of enterprise information technology, security, privacy and biometrics identification products and services to organizations, governments and healthcare agencies. Additional information about Neotel is available at www.neotel.ca 9,214,223 shares outstanding The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Neotel International Inc. (TSX VENTURE:NIT) |
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