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Microcap & Penny Stocks : FIX-CORP INTERNATIONAL INC. -- Ignore unavailable to you. Want to Upgrade?

To: Robert Wuj who wrote (694)	8/10/1999 6:06:00 PM
From: Robert Wuj	Read Replies (1) \| Respond to of 714

Company Press Release Fix-Corp Receives Up To $2 Million In New Financing HEATH, Ohio--(BUSINESS WIRE)--August 10, 1999--Fix-Corp International (OTC:BB:FIXC) today announced the U.S. Bankruptcy Court has approved its and its subsidiary's request to receive up to $2 million in new post-petition financing. Coast Business Credit, of Los Angeles, will provide up to $1 million in a debtor-in-possession revolving line of credit. An additional $1 million, in the form of a bridge loan, will be available from JNC Strategic Fund Ltd. and JNC Opportunity Fund Ltd. Financing from both sources will be used to fund continuing business operations and will continue until the company is out of bankruptcy. ``This financing, we believe, is a first step toward returning the company to normal operations,' said Mark P. Hershhorn, Fix-Corp chairman and chief executive officer. Fix-Corp International filed for Chapter 11 protection on Feb. 17, 1999 with the U.S. Bankruptcy Court. In late April the company received Court approval for a new management team. On July 19, FIXCOR Industries, Inc., the company's major operating subsidiary, filed a Chapter 11 petition. Fix-Corp International, Inc. is a recycler of post-consumer high density polyethylene (HDPE) and a producer of recycled post-consumer plastic resin pellets. Fix-Corp International also reclaims and recycles both oil and plastic from post-consumer HDPE motor oil. The company is based in Heath, Ohio. This release contains statements that constitute ``forward looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Given these uncertainties, readers of this release and investors are cautioned not to place undue reliance on such forward looking statements. The company disclaims any obligation to update such factors or to publicly announce the result of any revisions to any forward looking statements, which may be contained herein to reflect future events or developments.