Business
CENCOTECH REPORTS EXTENSION OF DEBENTURE AND CREDIT FACILITY
Jan. 26, 2011 (Canada NewsWire Group) -- TORONTO, Jan. 26 /CNW/ - Cencotech Inc. (CTZ - TSX-...
About this update from Namsys Inc.
[{"type":"text","content":"\n\n\n\n Jan. 26, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, Jan. 26 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reported that it has concluded negotiations with the holder of its\n convertible debenture to eliminate the convertibility of the debt\n obligation into common shares of the Company and to extend the\n instrument to April 30, 2012. In addition, it has renegotiated the\n credit facilities of its wholly owned subsidiary, Namsys Inc.,\n increasing the facility to $400,000 and extending the credit\n arrangement to April 30, 2012. Consideration to complete the extension\n of the debenture and eliminate the conversion right was a fee of\n $50,000 payable as to $35,000 in cash and the balance by the issuance\n of 250,000 common shares of the Company.\n\n\nK. Barry Sparks, the President of Cencotech stated: "We are pleased to\n reach agreement with our debenture holder to eliminate the conversion\n of the instrument into common shares and to gain the concurrence of the\n holder to extend the maturity of the instrument to April 30, 2012.\n Financial results for the Company's fiscal year end, October 31st, 2010, including the audited financial statements and MD&A will be\n reported to the marketplace during the first two weeks of February,\n 2011."\n\n\nCencotech Inc. products are designed to bring efficiency to the\n processing of currency and other value instruments in financial\n institutions, large retailers, public transportation operations and the\...