TREVOSE, Pa., Feb. 16 /PRNewswire-FirstCall/ -- Pure Earth, Inc. (OTC Bulletin Board: PREA) announced today that it recently closed a $5 million refinancing with a new lender which will provide over $1.7 million in additional borrowing availability to support its existing operations. The refinancing served to repay the prior senior lender facility and was completed in the form of an asset based /factor hybrid facility which provides for an 85% advance rate on an eligible based accounts receivable formula up to 90 days from the invoice date. There are no financial covenants included in this facility and the overall interest costs and fees are similar to the Company's former lender's costs which had capped the borrowing line at $3.1 million and had several restrictive covenants. The new credit facility expires on July 31, 2010 with automatic 6 month renewal periods unless the Company notifies the lender not later than 30 days from the expiration date.

The new financing should support the growth and expansion of Pure Earth's refinery waste recycling programs and its alternate fuel manufacturing plans from waste derived materials. Commenting on the financing, Brent Kopenhaver, the CFO, stated, "We are very pleased to have concluded this funding at this time since we needed the additional availability to provide working capital in managing our $40 million sales backlog during this year. The management team can now focus more time on the business aspects of the Company instead of financing issues."

Disclosure regarding forward looking statements:

This document includes "forward-looking statements" as defined by federal securities laws, with respect to our financial condition, results of operations and business, and our expectations or beliefs concerning future events. Words such as, but not limited to, "believe", "expect", "anticipate", "estimate", "intend", "plan", "targets", "likely", "will", "would", "could", and similar expressions or phrases, identify "forward-looking statements".

All forward-looking statements involve risks and uncertainties. Many risks and uncertainties are inherent in the environmental services industry. Others are more specific to our operations. The occurrence of the events described, and the achievement of the expected results, depend on many events, some or all of which are predictable or within our control. Actual results may differ materially from expected results.

SOURCE Pure Earth, Inc.