Dec 22 (Reuters) - KGIC Inc LRN.V :
* Says is presently undertaking a proposed non-brokered preferred share
financing to raise gross proceeds of up to $3.0 million
* Kgic-co reached agreement with bank of Montreal to remove it's debt
facilities from forbearance for purposes of converting facilities into term
loan
* Says the term loan to be repaid over three years on terms acceptable to the
company and bank of Montreal
* Source text for Eikon
* Further company coverage LRN.V