SOURCE: PureSpectrum, Inc.

November 13, 2008 09:00 ET

PureSpectrum, Inc. Enters Into Agreement With Emirates International Capital Advisory

Equity Investment and Advisory Contract Expected to Close Within 60 Days

SAVANNAH, GA--(Marketwire - November 13, 2008) - PureSpectrum, Inc. (PINKSHEETS: PSPM) has entered into an agreement with Emirates International Capital Advisory which provides a minimum equity investment of $5 million in PureSpectrum.

Following the completion of due diligence and other formalities, PureSpectrum expects the investment transaction to close within the next 60 days.

Emirates International Capital Advisory (EICA) is a leading financial advisory and management firm with investments in real estate, technology, minerals and global equity markets on three continents. The company's core investment areas are the Middle East, North Africa and Latin America, and EICA is actively involved in trading, investing and researching in the global equity, debt, currency and commodity markets.

"Pure Spectrum's business model and product are an exact fit to EICA's business direction. We believe that the global crises being witnessed today will finally be lead out by investments in the clean power and in the reduction and excessive use of pollutants. Today with governments taking a more active role in promoting efficient businesses we see a huge upside in businesses developing breakthrough and useable technologies such as Pure Spectrum," said Mr. Arash Masom Senior Managing Director of Emirates International Capital Advisory.

"PureSpectrum is fortunate to be able to partner with EICA, a well established firm in the Middle East and throughout the world," said PureSpectrum president and CEO Lee Vanatta. "We are looking forward to collaborating with EICA to identify future business opportunities for PureSpectrum in Dubai and the other United Arab Emirates."

During the past year, PureSpectrum has positioned itself on the leading edge of technology development to enhance the performance of energy efficient lighting products and is poised to make a significant contribution to the multibillion dollar global lighting industry. The company's innovative and cost-effective electronic ballast circuitry for dimmable Compact Fluorescent Light (CFL) bulbs and linear fluorescent light bulbs enables unprecedented performance and will allow dimmable energy efficient lighting products to be sold at a lower cost than commercially available dimmable products.

PureSpectrum is currently negotiating to finalize a contract manufacturing agreement for its consumer friendly CFL bulbs and expects to be able to distribute proprietary dimmable CFLs in North American Free Trade Association (NAFTA) countries in the first quarter of 2009. All PureSpectrum products will be compliant with established performance standards set forth by Energy Star, Underwriters Laboratory (UL) and the Federal Communications Commission (FCC).

Please call Jeff Clark at (912) 961-4980 for more information about PureSpectrum, Inc. or visit www.purespectrumlighting.com to see a short video featuring PureSpectrum's dimming technology compared to commercially available dimmable CFL bulbs. Please contact Shareholder Development Group at (770) 518-3449 or info@shareholderdg.com for investment information.

ABOUT PURESPECTRUM

PureSpectrum, Inc. is a technology company founded and headquartered in Savannah, Ga., that has developed breakthrough patent-pending ballast and dimming technology for artificial lighting. The company's mission stems from an awareness of the increasing urgency to encourage the adoption of energy efficient lighting solutions through superior performance. PureSpectrum continues its commitment to researching and developing technologies and products that satisfy consumer demand and meet energy conservation standards. For more information on PureSpectrum, please call (912) 961-4980 or visit www.purespectrumlighting.com.

Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to continued market acceptance for PureSpectrum's products and services, its ability to succeed in growing revenue, the effect of new competitors in its market, integration of acquired businesses, and other risk factors identified from time to time by PureSpectrum.

Contact Information

  • Media Contact
    Stephen Weeks
    (912) 961-4980