Wednesday, February 07, 2007 12:15:33 PM
since my days posting here are at an end, this is the most important information that this board will ever need about the future of BIGN:
Biogenerics Announces Financing Plan for the Hydroslotter Roll Out
PrimeZone via COMTEX
Oct 18, 2005 10:34:06 AM
TORONTO, Oct 18, 2005 (PRIMEZONE via COMTEX) --
Biogenerics Limited (Pink Sheets:BIGN): The company is pleased to announce that it has secured an agreement with an institutional investor Royal Petroleum. Royal Petroleum purchases and finances producing oil and gas wells. Biogenerics has financing in place for hydroslotting at 8.5% interest as needed and secured by our current production.
Biogenerics plans to primarily fund the hydroslotting expansion with its current cashflow. This is possible since the costs for slotting are returned in an average of 45 days from production. Having Royal Petroleum behind us eliminates the need for any financings which may cause dilution of equity.
Biogenerics' Paul Smith states that, "This hydroslotter joint venture is offering perhaps the most capital efficient way to create aggressive economic returns without exploration risk. Now that we have the ability to draw down the capital required we can aggressively move forward."
Website: http://www.bignltd.com
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