PUR Premier American Uranium Inc

CALGARY, Oct. 5 /CNW/ -- CALGARY, Oct. 5 /CNW/ - Pure Technologies Ltd. ("Pure") (TSX-V:PUR) announced today that it has concluded the purchase of Aqua Environmental Pty. Ltd. ("Aqua") for up to CAD$5.88 million in cash and common stock of Pure. Aqua, a privately-held company headquartered in Sydney, Australia, provides services relating to water main leak detection, water loss management and pipeline condition assessment in Australia and New Zealand. Founded in 1979, the company has been a major provider of pipeline leak detection and condition assessment for the region. As such, this acquisition positions Pure to build on the established expertise and have a presence in the Australian region, which holds significant opportunity. Both of Aqua's Principals, Hugh Chapman Sr. and Hugh Chapman Jr. will continue to be involved in the business. For the fiscal year ended June 30, 2010, Aqua had revenues of $1.97 million. The base purchase price is $2,940,000. There is provision for additional payments of $980,000 per year for three years should Aqua generate revenues of $1,960,000 for each year. The purchase price is based on a working capital balance of $245,000 at closing and will be adjusted on a dollar-for-dollar basis depending on the actual working capital at closing. Consideration paid at closing was $2,205,000 in cash and Pure issued 169,355 shares valued at $4.34 per share which was negotiated as part of the transaction. Any additional payments will be paid approximately 75% in cash and 25% in Pure common stock with an attributed value of $4.34. The business will continue to operate under the name of Aqua for the foreseeable future. "With this acquisition, Pure will now provide pipeline leak detection, condition assessment and asset management services in Australia, where drought has led to an increased emphasis on water preservation," said Jack Elliott, Pure's President and Chief Operating Officer. "The State and Federal governments have invested heavily in water infrastructure and to fund such projects, the retail cost of water has risen substantially. Reducing leakage with proactive techniques and technologies is vital to the region," he said. About Pure Technologies Ltd. Pure Technologies Ltd. is an international asset management technology and services company which has developed patented technologies for inspection, monitoring and management of critical infrastructure around the world. Pure's business model incorporates four distinct but complementary business streams: - Sales of proprietary monitoring technologies for pipelines, bridges and structures (SoundPrint(R), SoundPrint(R) AFO); - Recurring revenue from data analysis and site maintenance for these technologies, and from technology licensing; - Premium technical services including inspection, leak detection and condition assessment (P-Wave(R), SmartBall(R), Sahara(R), PipeDiver (TM), PureRobotics(TM)); - Specialized engineering services in areas related to asset management, primarily in the area of pipeline condition assessment for water and wastewater infrastructure (Openaka Corp., Price Brothers UK Ltd, and Jason Consultants). Forward-Looking Statements This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words believes, expects, anticipates, estimates, intends, plans, or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and Pure's actual results could differ materially from those anticipated. Forward looking statements are based on the opinions and estimates of Management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. In the context of any forward-looking information please refer to risk factors detailed in, as well as other information contained in, Pure's filings with Securities Regulators (www.sedar.com). "Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." (R) Registered Trademarks, property of Pure Technologies Ltd. %SEDAR: 00006060E about Pure Technologies Ltd. (TSX-V: PUR), visit our website at www.puretechnologiesltd.com; contact James E. Paulson, Chairman or Karen Keebler, Chief Financial Officer at (403) 266-6794; or e-mail to: info@puretechnologiesltd.com

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