The Financing has closed for PSPM. Securing MILLIONS of Dollars for a Start Up in this Financial Markets is going to bring in many investors.. IMO of course.
PureSpectrum, Inc. Receives First Round of Funding From Emirates International Capital Advisory
Lighting Technology Innovator Working Closely With Leading Middle Eastern Financial Advisory and Management Firm 02/19 07:19 AM
SAVANNAH, GA -- (MARKET WIRE) -- 02/19/09 -- PureSpectrum, Inc. (PSPM:$0.7550,$0.0750,11.03%) has received initial funding from Emirates International Capital Advisory (EICA) in Dubai pursuant to an equity investment commitment agreement reached in December.
EICA is a leading Middle Eastern financial advisory and management firm with a demonstrated interest in investing in small cap technology companies which are bringing innovative products to market. EICA's core investment areas are the Middle East, North Africa and Latin America, and the company actively searches for investment opportunities with technology ventures such as PureSpectrum that are developing energy efficient products and technologies which address environmental concerns with real solutions through innovation.
"This transaction with EICA will provide multiple benefits for PureSpectrum and our shareholders," said PureSpectrum president and CEO Lee Vanatta, who met with EICA representatives in Dubai earlier this week during the Middle East Electricity Exhibition and Conferences. "In addition to receiving this initial investment, we have begun working with EICA to identify and capitalize on business opportunities within member nations of the Gulf Coast Council as well as other parts of the Middle East and North Africa. Both PureSpectrum and EICA share a belief that innovation is the foundation for economic growth and recovery, and we are confident that our relationship with EICA will have a lasting impact on PureSpectrum's mission to be a leader in lighting innovation now and in the future. We anticipate many more developments to come from this unique partnership."
"At EICA, we believe strongly in the introduction of new, more energy efficient technologies and PureSpectrum's products and technologies match our philosophy," said EICA partner Sam Higgins. "As the worldwide effort to reduce energy consumption continues, we are excited to be able to accelerate the acceptance of energy efficient lighting products through an investment in superior technology that addresses consumer performance demands. As governments throughout the world continue to promote and support businesses devoted to launching energy efficient products, we believe companies like PureSpectrum will continue to identify and realize opportunities on a global scale."
The initiation of the relationship with EICA is yet another indicator of PureSpectrum's progress and stability following several weeks of high volume trading which resulted in a 400% increase in PureSpectrum's stock value. Since the beginning of the year, PureSpectrum's continued commitment to sound business principles, transparency in reporting, steady progress in product development and overwhelmingly positive feedback from the lighting and utilities industries has resulted in increased investor confidence and consistent gains for the company's stock price.
"We have told our investors from the outset that PureSpectrum's mission is to be a leading innovator in the lighting industry, and we have developed products and technologies which have a clear and proven benefit to consumers in many different markets and applications," Vanatta said. "I believe our fundamental dedication to integrity and the high quality of the products and technologies we have created is being rewarded with investor loyalty and confidence. We will continue to work diligently to affirm our shareholders' belief in the company and capitalize on the momentum we have built."
Call (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.
Media Contact
Stephen Weeks
(912) 961-4980
sweeks@purespectrumlighting.com
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