Business
PURE Bioscience Raises $500,000 in Unsecured Promissory Note - Appoints Ivan Chen to Board of Directors
PURE Bioscience Raises $500,000 in Unsecured Promissory Note - Appoints Ivan Chen to Board of Directors.
About this update from Pure Bioscience
[{"type":"text","content":"\n \n PURE Bioscience, Inc. (OTCQB: \n PURE), creator of the patented non-toxic silver dihydrogen citrate (SDC) \n antimicrobial, today announced that it has raised $500,000 in the form \n of a promissory note from Tom Lee, a member of PURE’s Board of Directors \n and its largest shareholder. The funds will be used to support continued \n operations.\n \n \n Hank \n R. Lambert, CEO of PURE said, “This non-dilutive interim financing \n supports our ongoing operations as we continue to expand use by existing \n customers and garner new users for our SDC-based food safety solutions. \n We appreciate Tom’s continued commitment to and support of PURE.”\n \n \n PURE also announced that it has named attorney and entrepreneur Ivan \n Chen to its Board of Directors, filling the vacancy left by the \n retirement of Director William Otis.\n \n \n Chen joins as an independent director and will also be a member of \n PURE’s Audit Committee. Chen brings extensive experience in the \n healthcare and technology industries, with deep legal and strategic \n business experience in areas including licensing, joint ventures, \n mergers & acquisitions, securities and corporate governance. His \n experience includes serving as Director, Mergers & Acquisitions at eBay \n Inc., a publicly-traded e-commerce platform. In this role, Chen led the \n negotiation and execution of numerous US and cross-border transactions.\n \n \n Prior to eBay, he was an associate at Morrison & Foerster LLP and at \n Skadden, Arps, Slate, Meagher & Flom LLP, both large international law \n firms. In these roles, Chen focused on transactional, securities and \n corporate governance matters. He is admitted to the bar in California \n and New York.\n \n \n Chen earned a J.D. from Harvard Law School, a master’s degree from the \n University of Cambridge, and a bachelor’s degree from Northwestern \n University.\n \n \n Chen said that, “I’m impressed with PURE’s uniquely effective \n antimicrobial solutions and the difference they make in food safety and \n processing. I am honored to join the Board and am excited about PURE’s \n future.”\n \n \n Otis, Executive VP of US Packaged Meat Operations for Smithfield Foods, \n has retired from PURE’s Board of Directors and has been retained as an...