TORONTO, ONTARIO--(MARKET WIRE)--Apr 18, 2008 -- Cenit Corporation ("Cenit" or the "Company") (CDNX:
CNT.V -
News)(PINK
SHEETS: CNTGF) is pleased to announce that it is continuing
to raise funds pursuant to its previously announced private
placement of convertible debentures. Cenit has raised an
aggregate of $190,000 and has requested an extension from
the TSX Venture Exchange to file final documentation in
order to complete the financing. The Company anticipates
that this financing will close in the next two weeks.
The principal amount of the convertible debentures is up
to $500,000 bearing interest at 8% per annum and maturing
24 months after the date of issuance. Principal of the debentures
will be convertible at a conversion price of $0.15 per common
share of the Company.
About Cenit Corp.
Cenit Corporation is a Canadian holding company which operates
three subsidiaries in diverse market niches: Blue Port Technologies
Inc. (BP), Continental Asset Management Inc. (CAM) and Health
Promotions Strategies Inc. (HPSI). BP is a software development
and recruiting services company, CAM is a vendor of Point
of Sale systems and HPSI is a registered gaming supplier.
Cenit is continually investigating strategic alternatives
to enhance shareholder value.
Shares Outstanding (Non-Diluted): 23,876,327