MONTREAL, Nov. 5 /CNW Telbec/ - Sonomax Hearing Healthcare Inc. (TSX Venture: SHH) is pleased to announce that it has held a first closing of its previously-announced financing by borrowing $645,000 from various “accredited investors”. The loans bear interest at an annual rate of 12%, payable quarterly, and are due March 4th, 2009. The proceeds from the loans have been added to Sonomax’s working capital. Sonomax anticipates that the final closing of the financing for the remaining $105,000 will take place on or about November 30th, 2009.
