TSX Venture Exchange Trading Symbol - NIT
33,154,829 shares outstanding
MARKHAM, ON, April 25 /CNW/ - Neotel International Inc. ("Neotel")
announced today that the private placement of 2,000,000 Units at a price of
$0.10 per Unit to raise gross proceeds of $200,000 has been fully subscribed
for and the Company anticipates raising an additional $100,000 for total
proceeds of $300,000. Each Unit consists of one common share and one common
share purchase warrant ("Warrant"). Each whole warrant will entitle the holder
to acquire one additional common share at a price of $0.15 for a period of
twenty four months from the date of purchase.
All securities issued in connection with the private placement are
subject to a resale restriction for a period of four months from the date of
The proceeds of the private placement will be used for marketing and
sales expansion and working capital purposes.
The terms of the above offering supersedes the terms of the private
placement announced in the press release of March 27, 2007.
ABOUT NEOTEL INTERNATIONAL INC.
Neotel is a provider of enterprise information technology, security and
biometrics identification solutions to enterprises and government. Neotel
offers clients a portfolio of secure solutions to protect assets, reduce
costs, increase revenues and comply with government and industry regulatory
frameworks. Neotel, through its subsidiary, Admiral Secure Products Ltd., is a
leading provider of secure Fax devices, protecting sensitive facsimile
communications from inadvertent or intentional disclosure. Admiral's products
are utilized by organizations with very high information confidentiality and
privacy requirements such as government departments and financial services
Additional information about Neotel is available at www.neotel.ca.
Additional information about Admiral Secure Products is available at
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Maureen Espin, Neotel International Inc., Tel:
(905) 948-9229 x28