Select the text tool and press to open the settings.

The first field is where you enter the text. A sample of how the text will appear can be found in the gray box on the bottom-right.

Choose a font from the 'Font Name' menu. The fonts are available are one built into the Operating System - at the current time there is no way to add additional fonts. The font color will match the foreground color you have selected in the canvas window. For outline-style fonts, the selected background color will be used.

The 'Padding' setting is used to adjust the spacing between each character. A higher setting adds more space...

... a lower setting removes space.

Similarly, the 'Leading' setting adjusts the spacing between each line. A higher setting adds more space...

... a lower setting removes space.

When satified, press the 'Done' button.

Text will be drawn starting from where your cursor is, so move the cursor using to where you would like the text to be.

Finally, press the space bar or to add your text.