Business
Cencotech has reached agreement with its convertible debenture holder
Cencotech has reached agreement with its convertible debenture holder.
About this update from Namsys Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, April 25 /CNW/ - Cencotech Inc. (CTZ - TSX-V) announced today,\nfollowing its Annual Meeting, that it has reached agreement with its\nconvertible debenture holder and the secured debt lender to its wholly owned\nsubsidiary, NamSys Inc., to extend the term of both the debentures and the\nsecured debt to September 30th, 2007. The convertible debenture conversion\nrate was reduced to $0.125 per share from $0.165 per share as part of the\ntransaction, which has received TSX Venture Exchange approval.\n\n\nCencotech Inc. was created to acquire and manage emerging high technology\nenterprises with sound business solutions for their customers. The\nCorporation's present products are designed to bring efficiency to the\nprocessing of currency and other value instruments in financial institutions,\nlarge retailers, public transportation operations and the gaming industry.\nCencotech systems are "open-architectured" and have been developed to\ninterface with clients' legacy systems.\n\n\nThe TSX Venture Exchange has neither approved nor disapproved of the\ninformation contained in this release. This Media Release may contain\nforward-looking statements, which reflect the Corporation's current\nexpectations regarding future events. The forward-looking statements involve\nrisks and uncertainties. Actual events could differ from those projected\nherein and depend on a number of factors including the success of the\nCorporation's sales strategies.\n\n\n","length":1523,"tagName":"div"}]