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Currency Exchange International, Corp.
ComnetiX(TM) Inc Reaches Agreement on Private Placement Equity Offering
Published Apr 22 2005
3 min read

ComnetiX(TM) Inc Reaches Agreement on Private Placement Equity Offering

TORONTO, April 22 /CNW/ -- ComnetiX(TM) Inc (TSX: CXI), a leading
provider of biometric identification and authentication solutions, announced
that it has reached an agreement with a syndicate of agents, led by Wellington
West Capital Markets Inc. and McFarlane Gordon Inc., and including GMP
Securities Ltd, (collectively the "Agents") in connection with a previously
announced (April 11, 2005) private placement equity offering of approximately
1,900,000 units (each a "Unit") priced at $2.50 per Unit on a best efforts
basis.  Insiders may subscribe for up to 200,000 Units on the same terms as
described above.
Each Unit will consist of one common share and one-half of one common
share purchase warrant.  Each whole warrant will have an exercise price of
$3.25 and will be exercisable for a term of 1 year from the closing date.  The
Agents will be paid a commission of 7% of the gross proceeds of the offering
for arm's length investors and 3.5% of the gross proceeds for sales to
insiders.  The proceeds of the offering will be used to fund growth, for
working capital and for general corporate purposes.
Completion of the private placement is subject to receipt of all required
regulatory and other approvals, including the approval of the Toronto Stock
Exchange.  It is anticipated that the private placement will close on or about
April 28, 2005.

About ComnetiX(TM) Inc
ComnetiX(TM) Inc provides secure identification and authentication
solutions to both the public and private sectors throughout North America.
ComnetiX offers multimode biometric identification solutions for use in areas
such as applicant screening, financial services, health care, transportation,
airlines and airports, casinos and gaming, and energy and utilities.  Clients
include American Airlines, Lehman Brothers, New York City Health and Hospital
Corporation, New York State Division of Criminal Justice Services, Toronto
Police Services Board, Boston Police Department and the Royal Canadian Mounted
Police.  ComnetiX is also Canada's premier applicant fingerprinting services
company, facilitating tens of thousands of criminal background checks each
year through its chain of ten offices across Canada.  In addition, ComnetiX
has recently launched its first applicant fingerprinting services office in
the U.S., located in Sacramento, California.

The securities being offered have not, nor will be registered under the
United States Securities Act of 1933, as amended, and may not be offered or
sold within the United States or to, or for the account or benefit of, U.S.
persons absent U.S. registration or an applicable exemption from U.S.
registration requirements.  This release does not constitute an offer for sale
of securities in the United States.
Statements made in this news release that relate to future plans, events
or performances are forward-looking statements.  Any statement in this release
containing words such as "believes," "plans," "expects" or "intends" and other
statements that are not historical facts are forward-looking, and these
statements involve risks and uncertainties and are based on current

expectations.  Consequently, actual results could differ materially from the
expectations expressed in these forward-looking statements.

 For further information

 Investor Relations:
 Jesse Deal
 1-877-691-8087 (toll-free)
 investor.relations@ComnetiX.com

 Tim Zahavich
 ComnetiX Inc
 905-829-9988 ext 206
 investor.relations@ComnetiX.com