Cenit Corporation: Private Placement Update
April 18 2008 - 5:39PM
Marketwired
TORONTO, ONTARIO (TSX VENTURE: CNT)(PINK SHEETS: CNTGF) is
pleased to announce that it is continuing to raise funds pursuant
to its previously announced private placement of convertible
debentures. Cenit has raised an aggregate of $190,000 and has
requested an extension from the TSX Venture Exchange to file final
documentation in order to complete the financing. The Company
anticipates that this financing will close in the next two
weeks.
The principal amount of the convertible debentures is up to
$500,000 bearing interest at 8% per annum and maturing 24 months
after the date of issuance. Principal of the debentures will be
convertible at a conversion price of $0.15 per common share of the
Company.
About Cenit Corp.
Cenit Corporation is a Canadian holding company which operates
three subsidiaries in diverse market niches: Blue Port Technologies
Inc. (BP), Continental Asset Management Inc. (CAM) and Health
Promotions Strategies Inc. (HPSI). BP is a software development and
recruiting services company, CAM is a vendor of Point of Sale
systems and HPSI is a registered gaming supplier. Cenit is
continually investigating strategic alternatives to enhance
shareholder value.
Shares Outstanding (Non-Diluted): 23,876,327
Contacts: Cenit Corporation Birks Bovaird CEO (416) 214-9152
Website: www.cenitcorp.com
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