XGEN Provides Update on Directors Financing
October 01 2009 - 7:30AM
Marketwired
XGEN Ventures Inc. (the "Company") (NEX BOARD: XGN.H) announces
that it has updated its financial arrangements with two of its
directors whereby these directors have provided to date, a total of
$670,000 of loans to the Company through September 2009.
This capital has been provided by the directors to support the
Company's ongoing working capital needs and its capital
expenditures. These loans are secured by a second charge on the
Company's assets and bear interest at a rate of 12% per annum and a
maturity date of June 15, 2010.
Contacts: XGEN Ventures Inc. Rod J. MacKenzie Managing Director
403-201-0387
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