NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--June 1, 2006--Xechem International, Inc. (OTC BB: XKEM - News) announced today that its Nigerian subsidiary, Xechem Pharmaceuticals Nigeria Ltd. (Xechem Nigeria), has successfully closed on a N150 Million Naira ($1.2 million) loan from the Nigerian Export-Import (NEXIM) Bank. The loan has a three year term, with a moratorium on repayment of principal during the first year. Xechem International is neither a borrower nor a guarantor under the loan facility in this transaction.
