March 14 (Reuters) - GeneNews Ltd GEN.TO :
* Announces private placement financing of up to $5 million
* Says private placement of up to 50 million common shares of the company at a
price of $0.10 per share
* Expects to use the proceeds to settle aged payables, pay interest associated
with third-party debts and working capital purposes
* Source text for Eikon Further company coverage GEN.TO