FirstGrowth Capital Inc.

FirstGrowth Capital Inc.

January 03, 2007 14:03 ET

FirstGrowth Capital Inc. Announces Its Subsidiary, Kinetex Inc., Has Received a Seasonal Increase in Its Credit Facilities From the Bank of Montreal

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 3, 2007) - FirstGrowth Capital Inc. (TSX VENTURE:FGC), a TSX Venture Exchange (the "Exchange") listed Company (the "Company"), is pleased to announce that it has entered into a subrogation agreement dated December 22, 2006 (the "Agreement") with the Bank of Montreal to subordinate all present and future indebtedness and liability of its 98.36% owned subsidiary, Kinetex Inc. ("Kinetex") in favour of the Bank of Montreal to a maximum of $2,500,000.

This expanded credit facility will allow Kinetex to manage its substantial year over year revenue growth of approximately 80% to 90%.

Kinetex is currently operating at near peak capacity and forecasts continued growth as digital Full Wave 3 Component VectorSeis becomes recognized as the most advanced exploration technology by the resource industries.

Kinetex is a Calgary-based integrator of applied sciences to the resource industry including both Oil & Gas and Mining, specifically uranium and diamonds. One of Kinetex's primary services is seismic imaging utilizing the proprietary VectorSeis® Recording System and "Digital 3 Component Full Wave" imaging.



Gilbert Schneider, President

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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