VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2009) - Pacgen Biopharmaceuticals Corporation ("Pacgen" or the "Company") (TSX VENTURE:PGA) announced today that it intends to offer, through one or more tranches of closings of a non-brokered private placement, convertible debentures in an aggregate principal amount of up to approximately C$610,000 (the "Offering"). Pacgen expects to complete the first tranche of the Offering upon the satisfaction of certain conditions, including the approval of the TSX Venture Exchange. Subject to adjustment based on the closing date exchange rate for subscription proceeds received in U.S. dollars, the first tranche of the Offering is expected to be for an aggregate principal amount of approximately C$360,000.
