New Issue: Cintel raises $5.56 million from convertible note offering

By Sheri Kasprzak

New York, Dec. 20 - Cintel Corp. said it settled a $5,561,857 private placement of convertible notes.

The zero-coupon notes were sold to 10 accredited investors.

The notes mature on June 15, 2007 and are convertible into shares at $0.35 each.

Based in Louisville, Ky., Cintel develops internet traffic management products for businesses.

Issuer:	Cintel Corp.
Issue:	Convertible notes
Amount:	$5,561,857
Maturity:	June 15, 2007
Coupon:	0%
Conversion price:	$0.35
Warrants:	No
Settlement date:	Dec. 15
Stock price:	$0.26 at close Dec. 15

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