1st Oct 2008 07:00
PuriCore Raises $9.74 Million
MALVERN, PENNSYLVANIA, AND STAFFORD, UK, 1 October 2008 - PuriCore plc (LSE: PURI), the life sciences company focused on developing and commercialising proprietary, green solutions that safely, effectively, and naturally kill infectious pathogens, today announces that it has closed on a new $9.74 million debt facility with Commerce Commercial Leasing. The debt is structured as a 36-month promissory note with an imputed interest rate of 7.7%. This financing is consistent with the company's strategy as communicated in the Interim Results to monetize cash flows from existing Food Retail lease contracts. Of the $9.74 million, approximately $1.1 million will be used to extinguish existing higher cost debt, with the balance for general working capital.
Enquiries:
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Ben Brewerton |
Greg Bosch, CEO |
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Susan Quigley |
Keith A. Goldan, CFO |
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Financial Dynamics |
PuriCore |
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+44 (0) 20 7831 3113 |
+1 484 321 2700 |
About PuriCore
PuriCore plc (LSE: PURI) is a life sciences company focused on developing and commercialising proprietary green solutions that safely, effectively, and naturally kill infectious pathogens without causing harm to human health or the environment. PuriCore targets markets that depend upon controlling contamination, including food safety in retail and foodservice, medical device disinfection, and wound therapy. The Company's patented, proprietary technology mimics the human body's production of the natural antimicrobial hypochlorous acid, which is highly effective in killing bacteria, viruses, and fungal spores, simply from water, common salt, and electricity. Hypochlorous acid is proven to be safe, environmentally friendly, and fast acting against a broad range of infectious pathogens, including major public health threats of M. tuberculosis, MRSA, E.coli, Norovirus, H5N1 Avian Influenza, HIV, Salmonella, Polio Virus, Helicobater pylori, and Legionella. PuriCore is headquartered in Malvern, Pennsylvania, with offices in Stafford, UK.
To receive additional information on PuriCore, please visit our website at www.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 based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
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