MONTREAL, QUEBEC--(CCNMatthews - Nov. 15, 2006) - This Press Release is Not for Distribution in the United States MonoGen, Inc., formerly Oxbow Equities Corp., (“Corporation”)(TSX:MOG) today announced that it has completed the previously announced private placement of 33.7 million common shares at C$0.55 per share for total proceeds of C$18.5 million. This financing was effected by way of a non-brokered private placement with a four-month hold period. The total number of shares outstanding following the closing of this financing is 168.4 million and 198.2 million on a fully diluted basis. The Corporation intends to consolidate its outstanding common shares in the range of one-for-10 to one-for-15 before September 30, 2007.