PuriCore plc Raises £8.4 Million Through Placing and Open Offer

 

FOR PUBLICATION IN THE UNITED KINGDOM ONLY. NOT FOR RELEASE, PUBLICATION
OR DISTRIBUTION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR
FROM THE UNITED STATES, CANADA, AUSTRALIA AND JAPAN, OR INTO ANY OTHER 
JURISDICTION WHERE THE EXTENSION OR AVAILABILITY OF THE PLACING AND OPEN 
OFFER WOULD BREACH ANY APPLICABLE LAW.

PuriCore plc ("PuriCore" or the "Company")
Result of Placing and Open Offer

Malvern, Pennsylvania, and Stafford, UK, 22 August 2008 – PuriCore (LSE: PURI), the life sciences company focused on developing and commercialising proprietary, green products that safely, effectively, and naturally kill infectious pathogens without causing harm to human health or the environment today announces the results of its Open Offer.

By 11.00 am on 21 August 2008 (being the latest time and date for receipt of completed Application Forms and payment in full under the Open Offer), valid applications had been received in respect of 18,672,946 Open Offer Shares (representing 61.1 per cent. of the Open Offer Shares pursuant to the Open Offer).  Accordingly, and subject to, inter alia, the passing of the Resolutions at the General Meeting, the Company has through the Placing and Open Offer raised £8.4 million (approximately £7.3 million net of expenses). 

On 30 July 2008, the Company announced that it had raised approximately £6 million by way of a Placing of 44,937,890 Placing Shares at the Issue Price of 13.25 pence per share, in addition to which Qualifying Shareholders were offered the opportunity to subscribe for up to 30,577,758 Open Offer Shares at the Issue Price.  Subscribers under the Placing or the Open Offer were entitled to one third of a Warrant for each New Ordinary Share taken up. 

Application has been made for the 44,937,890 Placing Shares and the 18,672,946 Open Offer Shares to be admitted to the Official List and to trading on the London Stock Exchange’s main market for listed securities.  Subject to, inter alia, the passing of the Resolutions at the General Meeting at 12.30 pm on 26 August 2008, it is expected that Admission will become effective and dealings will commence at 08.00 am on 27 August 2008.

Greg Bosch, Chief Executive of PuriCore, said:
“We are pleased with the confidence shown by investors in PuriCore’s fundraising efforts, particularly under current market conditions. Our total fundraising through the Placing and Open Offer of £7.3 million net of expenses enables us to continue to grow our core businesses of US Food Retail and UK Endoscopy and further strengthen the balance sheet.”

Enquiries:
PuriCore
Greg Bosch, CEO
Keith A. Goldan, CFO
+1 484 321 2700

Nomura Code Securities Limited
Phil Walker
+44 (0) 20 7776 1200

Financial Dynamics
Ben Brewerton / Susan Quigley
+44 (0) 20 7831 3113

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.

Nomura Code Securities Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting as the Company’s sponsor, financial adviser, broker and (in respect of the Placing Only) underwriter in relation to the Placing, the Open Offer and Admission and will not be responsible to any other person other than the Company for providing the protections afforded to its clients or for advising any other person in relation to the Placing, the Open Offer, Admission or the contents of the prospectus and, if relevant, the accompanying documents or any arrangements referred to therein. 

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