Dec 7 (Reuters) - GeneNews Ltd GEN.TO :
* Says GeneNews has initiated a staff reduction of 16 employees, representing
approximately 30% of IDL's total workforce
* Says has entered into an interim working capital loan agreement with a major
shareholder
* Says entered into an interim working capital loan agreement with a major
shareholder
* Interim working capital financing provides GeneNews sufficient capital to
support continuing operations "in the short-term"
* Interim working capital loan agreement pursuant to which co will borrow US$400,000, bearing interest of 2 percent, with term of one year
* Source text for Eikon ID:nGNXVEXPQa
* Further company coverage GEN.TO