Neotel International Inc.

Neotel International Inc.

August 22, 2005 16:50 ET

Neotel International Inc.: Extension of Expiry Period for Short Form Offering Document 'SFOD' Financing

MARKHAM, ONTARIO--(CCNMatthews - Aug. 22, 2005) - Neotel International Inc. (TSX VENTURE:NIT) ("Neotel") announced today that it has received a written extension of the TSX Venture Exchange to the extension of the expiry date of Neotel's SFOD financing, from August 23, 2005 to August 31, 2005. Accordingly, all marketing and selling activities of Leede Financial Markets Inc. and other market participants must cease as of the close of business Wednesday, August 31, 2005. Neotel expects to close the final tranche of its SFOD financing by no later than Wednesday, September 7, 2005.

As previously announced in Neotel's press release dated July 21, 2005, Neotel has already closed $531,900 of its planned $1,000,000 SFOD financing.

Neotel also announces that, as per the terms of its $150,000 short-term bridge debenture financing previously announced March 15, 2005, the lenders have converted the face amount of the debentures for 999,999 common shares as well as the issuance of 133,334 common shares issued as a bonus upon conversion of the debentures. The debentures were converted at a deemed value of $0.15 per share.


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

13,040,284 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
    (905) 948-9229 ext: 22