SOURCE: Spring Creek Capital Corporation

June 09, 2009 09:00 ET

Spring Creek Capital Corporation Announces Completion of Share Exchange With BioCube, Inc.

MERRITT ISLAND, FL--(Marketwire - June 9, 2009) - Spring Creek Capital Corporation (OTCBB: SCRK), a Nevada corporation, announced today that it has completed a share exchange with BioCube Inc. under the Letter of Intent originally disclosed April 29, 2009 to provide funding for the development and market launch of BioCube's proprietary, infectious disease decontamination system. Spring Creek recently elected to be treated as a business development corporation (BDC) under the Investment Company Act of 1940 and will focus on portfolio investments in companies developing cutting edge solutions for the healthcare market.

With the share exchange completed, Spring Creek will commence an offering to raise necessary funding required by BioCube for its capital needs to bring the decontamination system to market. The offering will also include capital required by Spring Creek for its own corporate needs and future acquisition.

BioCube, Inc. a Nevada corporation, is collaborating with its Russian research partners to complete the development and then commercialization of an environmentally safe decontamination system, utilizing an aerosol-based delivery method. This system has demonstrated effective handling of microbial and fungal cells, spores, and viruses that are the core of such infections as MRSA, Avian Flu, Swine Flu and common molds.

Hospitals struggle with the control of infectious diseases and continue to look for efficacious, environmentally friendly and cost-effective means of dealing with this pervasive problem. BioCube intends to focus on this existing market need for decontamination of patient rooms, operating theaters, medical equipment and furniture, which exists in over 5,000 hospitals and nearly 1 million beds in the U.S. healthcare system, as well as the many other uses of a similar decontamination solution.

BioCube will focus on the following target markets:

--  Healthcare (hospital, nursing homes)
--  Travel (airplanes, cruise ships, mobile homes)
--  Mold remediation
--  Schools
--  Animal farming
--  Agriculture
    

BioCube believes that its decontamination technology holds significant promise as a long-term solution to a global problem. BioCube's objective is to help create an effective technology that will allow for rapid, inexpensive and environmentally safe remediation of buildings that have been contaminated by a biological agent, thus allowing a speedy return to a state of normalcy.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new ventures, as well as other factors set forth in Spring Creek Capital's most recently filed Form 10-K and Form 10-Q reports. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. Spring Creek Capital assumes no obligation to update the statements contained in this release.

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