BASKING RIDGE, N.J.--(BUSINESS WIRE)--Aug. 17, 2006--Millennium Biotechnologies Group, Inc. (OTCBB:MBTG) announced today that it entered into a definitive agreement for a $2.6 million private placement with institutional investors. The Company expects to use the net proceeds from the financing to repay its existing indebtedness and for general working capital and other corporate purposes.
