TORONTO, April 25 /CNW/ - Cencotech Inc. (CTZ - TSX-V) announced today, following its Annual Meeting, that it has reached agreement with its convertible debenture holder and the secured debt lender to its wholly owned subsidiary, NamSys Inc., to extend the term of both the debentures and the secured debt to September 30th, 2007. The convertible debenture conversion rate was reduced to $0.125 per share from $0.165 per share as part of the transaction, which has received TSX Venture Exchange approval.
Cencotech Inc. was created to acquire and manage emerging high technology enterprises with sound business solutions for their customers. The Corporation's present products are designed to bring efficiency to the processing of currency and other value instruments in financial institutions, large retailers, public transportation operations and the gaming industry. Cencotech systems are "open-architectured" and have been developed to interface with clients' legacy systems.
The TSX Venture Exchange has neither approved nor disapproved of the information contained in this release. This Media Release may contain forward-looking statements, which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ from those projected herein and depend on a number of factors including the success of the Corporation's sales strategies.