SOURCE: PuriCore Plc

January 08, 2007 02:01 ET

PuriCore Plc announces Fundraising

Pennsylvania -- (MARKET WIRE) -- January 8, 2007 --

             PuriCore Raises $5.1 million of debt

MALVERN, PENNSYLVANIA, and STAFFORD, UK, January 8, 2007 -- PuriCore plc ("PuriCore"), the life sciences company focused on the development of its novel, safe antimicrobial technology, today announces that it has raised gross proceeds of approximately $5.1 million of debt through a promissory note with Tennessee Commerce Bank.

The promissory note is secured by future cash flows associated with rented Sterilox Systems installed in 2006 by the company's US Food Safety Division. The principal amount along with interest (at a nominal rate of 8.5 per cent per annum) is repayable in monthly instalments over the life of the operating lease with its customer.

Keith A. Goldan, Chief Financial Officer at PuriCore, commented:

"This capital enables us to build on the company's stated strategy of renting Sterilox Systems to our customers. We continue to grow our portfolio of assets that produce recurring, predictable and sustainable revenues and cash flows over the long term. Furthermore, this funding further strengthens our cash position, optimises the Company's weighted average cost of capital, and enables us to close 2006 with approximately $42 million on our balance sheet."


PuriCore plc                               Tel: +1 (484) 321 2700
Greg Bosch, Chief Executive Officer
Keith A. Goldan, Chief Financial Officer

Financial Dynamics                         Tel: +44 (0) 20 7831 3113
Ben Brewerton
John Gilbert


PuriCore is a life sciences company focused on the development and commercialisation of its proprietary technology that mimics the production by the human body of its natural anti-microbial, hypochlorous acid. Hypochlorous acid is highly effective at killing pathogens such as bacteria, viruses and fungi and yet is safe and environmentally friendly. PuriCore's solutions have applications in a wide range of markets where it is important to control microbial contamination. These markets include medical device disinfection, food safety, dental equipment decontamination, environmental remediation, hospitality, water safety, wound management and other applications intended to limit the spread of infectious disease, including major global disease threats such as Tuberculosis, MRSA, Influenza, E.coli, Norovirus, HIV, polio, Hepatitis A, H.pylori and Legionella.

PuriCore markets a portfolio of branded systems which produce hypochlorous acid solutions on-site at a customer's location from water, electricity and common salt. These solutions are generated at a range of concentrations and at a nearly neutral pH range similar to the human body. They are effective as soaks, sprays, mists and in other forms.

PuriCore is headquartered in Malvern, Pennsylvania and has offices in Stafford, UK.

To receive additional information on the company, please visit our Web site at, which does not form part of this press release.

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