17th Oct 2007 07:00
PuriCore Plc17 October 2007 PuriCore Arranges New $20 Million Borrowing Facility MALVERN, PENNSYLVANIA, AND STAFFORD, UK, 17 October 2007- PuriCore (LSE: PURI),the life sciences company focused on the control of infectious pathogens withits novel, safe antimicrobial technology, announces that it has arranged a newborrowing facility totaling $20 million with Brown Brothers Harriman & Co. Thenew facility is a demand line of credit at the London Interbank Offered Rate(LIBOR) plus 1.75%. Approximately $4.25 million of this facility will be usedimmediately to refinance existing debt, whilst the remainder of the line isavailable to fund purchases of new equipment and for general working capital. Keith Goldan, CFO of PuriCore, said: "This facility provides flexible, cost-effective financing to support PuriCore'sbusiness model and the underlying value of the Company. The new line of creditenables us to refinance a portion of our previous debt at a lower cost ofcapital and on much improved terms. The additional capital allows us to takeadvantage of and finance the many new business development opportunities beforeus." Contacts:Ben Brewerton Greg Bosch, CEOFD Keith A. Goldan, CFO PuriCore plc+44 (0) 20 7831 3113 +1 484 321 2700 About PuriCore PuriCore (London Stock Exchange: PURI) is a life sciences company focused ondeveloping and commercialising proprietary products that safely, effectively,and naturally kill contagious pathogens. PuriCore's technology provides asolution to a broad range of markets that depend upon controlling contamination,including food safety in retail and foodservice, medical device disinfection,wound therapy, and hospitality. The Company's proprietary technology mimics thehuman body's production of the natural antimicrobial hypochlorous acid, which ishighly effective in killing bacteria, viruses, and fungal spores. Deployinghypochlorous acid solutions as soaks, sprays, mists, and in other forms,PuriCore's technology is designed to limit the spread of infectious disease,including major public health threats of M. tuberculosis, MRSA, E.coli,Norovirus, Avian Influenza, HIV, Polio Virus, Helicobater pylori, andLegionella. PuriCore is headquartered in Malvern, Pennsylvania, with offices inStafford, UK. To receive additional information on PuriCore, please visit our web site atwww.puricore.com, which does not form part of this press release. Certain statements made in this announcement are forward-looking statements.These forward-looking statements are not historical facts but rather are basedon the Company's current expectations, estimates, and projections about itsindustry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,''intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressionsare intended to identify forward-looking statements. These statements are notguarantees of future performance and are subject to known and unknown risks,uncertainties, and other factors, some of which are beyond the Company'scontrol, are difficult to predict, and could cause actual results to differmaterially from those expressed or forecasted in the forward-looking statements.The Company cautions shareholders and prospective shareholders not to placeundue reliance on these forward-looking statements, which reflect the view ofthe Company only as of the date of this announcement. The forward-lookingstatements made in this announcement relate only to events as of the date onwhich the statements are made. The Company will not undertake any obligation torelease publicly any revisions or updates to these forward-looking statements toreflect events, circumstances, or unanticipated events occurring after the dateof this announcement except as required by law or by any appropriate regulatoryauthority. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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