RLM.L Regulatory News (RLM)

17 Oct 2007 12:00

PuriCore (LSE:PURI), the life sciences company focused on thecontrol of infectious pathogens with its novel, safe antimicrobialtechnology, announces that it has arranged a new borrowing facilitytotaling $20 million with Brown Brothers Harriman & Co. The newfacility is a demand line of credit at the London Interbank OfferedRate (LIBOR) plus 1.75%. Approximately $4.25 million of this facilitywill be used immediately to refinance existing debt, while theremainder of the line is available to fund purchases of new equipmentand for general working capital. £ "This facility provides flexible, cost-effective financing tosupport PuriCore's business model and the underlying value of theCompany," said Keith A. Goldan, CFO of PuriCore. "The new line ofcredit enables us to refinance a portion of our previous debt at alower cost of capital and on much improved terms. The additionalcapital allows us to take advantage of and finance the many newbusiness development opportunities before us." £ About PuriCore £ PuriCore (LSE:PURI) is a life sciences company focused ondeveloping and commercializing proprietary products that safely,effectively, and naturally kill contagious pathogens. PuriCore'stechnology provides a solution to a broad range of markets that dependupon controlling contamination, including food safety in retail andfoodservice, medical device disinfection, wound therapy, andhospitality. The Company's proprietary technology mimics the humanbody's production of the natural antimicrobial hypochlorous acid,which is highly effective in killing bacteria, viruses, and fungalspores. Deploying hypochlorous acid solutions as soaks, sprays, mists,and in other forms, PuriCore's technology is designed to limit thespread of infectious disease, including major public health threats ofM. tuberculosis, MRSA, E.coli, Norovirus, Avian Influenza, HIV, PolioVirus, Helicobater pylori, and Legionella. PuriCore is headquarteredin Malvern, Pennsylvania, with offices in Stafford, UK. £ To receive additional information on PuriCore, please visit ourwebsite at www.puricore.com, which does not form part of this pressrelease. £ Certain statements made in this announcement are forward-lookingstatements. These forward-looking statements are not historical factsbut 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 intendedto identify forward-looking statements. These statements are notguarantees of future performance and are subject to known and unknownrisks, uncertainties, and other factors, some of which are beyond theCompany's control, are difficult to predict, and could cause actualresults to differ materially from those expressed or forecasted in theforward-looking statements. The Company cautions shareholders andprospective shareholders not to place undue reliance on theseforward-looking statements, which reflect the view of the Company onlyas of the date of this announcement. The forward-looking statementsmade in this announcement relate only to events as of the date onwhich the statements are made. The Company will not undertake anyobligation to release publicly any revisions or updates to theseforward-looking statements to reflect events, circumstances, orunanticipated events occurring after the date of this announcementexcept as required by law or by any appropriate regulatory authority. Copyright Business Wire 2007