MICROBIO &lt;MRC> PLANS ACQUISITION, FINANCING
  Microbiological Research Corp
  said it entered into a letter of intent for a proposed business
  combination with privately owned &lt;DataGene Scientific
  Laboratories Inc>, and &lt;Milex Corp> a newly formed company,
  through a stock swap.
      It also said it received 100,000 dlrs from the sale of a
  convertible note to Ventana Growth Fund as part of an overall
  1,100,000 equity financing plan with Ventana. Under that plan,
  a minimum of 400,000 dlrs and a maximum of one mln dlrs of
  additional new capital is to be provided to fund the combined
  operations of the three companies.
      Microbiological also said that if the maximum additional
  capital is raised, it will own about 49 pct of 4,550,00 shares
  of common outstanding in the new combined company, DataGene
  holders will own 29 pct, and Ventana and others will own 13
  pct.
      It said the remaining nine pct will be held by Milex
  shareholder Norman Monson, who will become chief executive
  officer of the combined companies.
  

