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Millenium Biologix Inc. Closes Demand Loan Of $0.5 Million And Receives Commitment For Additional $0.5 Million


8/28/2006 12:00:47 PM

KINGSTON, ON, Aug. 28 /CNW/ - Millenium Biologix Corporation (TSX: MBC) ("Millenium" or "the Company") today announced that it has closed its previously announced demand loan (the "Loan") from one of its existing investors (the "Investor") in the amount of $0.5 million at an interest rate of twenty five (25%) per annum. The Loan is secured by a general charge over the assets of the Company, subject to existing prior ranking security. The Loan is also guaranteed by the Company's subsidiary, Millenium Biologix Inc., and secured by a general charge over the assets of Millenium Biologix Inc., subject to existing prior ranking security.

Read at Canada NewsWire


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