Neotel International Inc.
TSX VENTURE : NIT

Neotel International Inc.

March 15, 2005 16:45 ET

Neotel Arranges Short Term Bridge Financing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: NEOTEL INC.

TSX VENTURE SYMBOL: NYC

MARCH 15, 2005 - 16:45 ET

Neotel Arranges Short Term Bridge Financing

MARKHAM, ONTARIO--(CCNMatthews - March 15, 2005) - Neotel Inc. (TSX
VENTURE:NYC) and its President Mr. Howard Phee, is pleased to announce
that it has obtained short term bridge financing in the amount of
$150,000 from arms length investors.

The coupon rate is 12% per annum, the loan is convertible into common
shares upon demand at the option of the investors and is repayable on
June 1, 2005.

ABOUT NEOTEL

Neotel is a provider of enterprise information technology, security and
biometric identification products and services to organizations,
governments and healthcare agencies.

25,092,670 shares outstanding

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Neotel Inc.
    Howard Phee
    President
    (905) 948-9229
    THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
    OR ACCURACY OF THIS RELEASE