Nightingale Informatix Corporation announced it has agreed to complete a non-brokered private placement of a short term subordinated secured note in the principal amount of up to $1.15 million. The Note will be purchased by Optimum Marketing & Merchandising Services Ltd. with advances against the Note permitted prior to finalization. The proceeds of the Note are intended to be used by the company for working capital and general corporate purposes.

The Note will bear interest at a fixed rate of 12% per annum, calculated and payable monthly in arrears on the last day of each month. The Note will be secured by all of the company's present and subsequently acquired property and assets and shall be subordinated to certain defined senior indebtedness. The completion of the issue of the Note remains subject to the approval of the TSX Venture Exchange.

The Note may be repayable by the company, at its sole option, at any time, in whole or in part, without notice, at a price equal to the face value being repaid, subject to the consent of the company's senior lenders.