TORONTO, Nov. 8 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the completion of the conversion of $600,000 in outstanding debt to Common Shares of the Company at a price of $0.10 per share with effect October 31st, 2005. The share for debt exchange was undertaken with four creditors; two being secured debt holders and two legal firms. Regular materials creditors have been maintained satisfactorily by the Company. The four creditors receiving shares as set out above are subject to a hold period on the shares issued to satisfy the debt until March 1, 2006. Concurrently, the secured debt of the Company was extended to December 31st, 2006 and the conversion rate on the $1,000,000 convertible debenture was adjusted to $0.165 per share from $0.33 per share. As previously announced, to allow minority shareholders an opportunity to maintain their pro rata interest in the Company, the Company plans to undertake a rights offering of approximately 5,450,000 shares at $0.10 per share. The Company proposes to qualify the rights offering in Ontario, Alberta and British Columbia, the three provinces in which Cencotech is a Reporting Issuer. Completion of the debt for equity transaction and the successful completion of the rights offering will significantly improve the Company's working capital position, providing the Company with greater flexibility in its pursuit of product sales. 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 client's 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.