Neotel International Inc.
TSX VENTURE : NIT

Neotel International Inc.

September 12, 2005 08:38 ET

Neotel Closes Second Tranche of SFOD Financing

MARKHAM, ONTARIO--(CCNMatthews - Sept. 12, 2005) - Neotel International Inc. ("Neotel") (TSX VENTURE:NIT) announced today that it has completed the offering of an additional 680,500 Units at a price of $0.20 per Unit to raise gross proceeds of $136,100. 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 $0.30 for a period of twelve months from September 7, 2005.

As previously announced on July 25, 2005, Neotel closed the first tranche of its SFOD financing by issuing 2,659,500 Units to raise gross proceeds of $531,900.

Leede Financial Markets Inc. acted as agent for this offering. The offering has been conducted on the Short Form Offering Document Rules of the TSX Venture Exchange.

ABOUT NEOTEL INTERNATIONAL INC.

Neotel International Inc. is a provider of identity, security, and trust solutions as well as professional services specializing in industry based biometric identification solutions. Additional information about Neotel is available at www.neotel.ca.

13,920,784 shares outstanding

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Neotel International Inc.
    Howard Phee
    President
    (905) 948-9229 ext: 22
    www.neotel.ca