ULURU Inc. Announces Retirement Of Convertible Debt

Apr 01, 2014, 08:00 ET from ULURU Inc.

ADDISON, Texas, April 1, 2014 /PRNewswire/ -- ULURU Inc. (OTCQB: ULUR), today announced that it has made the final payment on the Inter-Mountain Capital Corporation ("Inter-Mountain") Secured Convertible Note.

Under the terms of the Convertible Note, ULURU exercised their option to offset the principal and interest of the Buyer Notes we received from Inter-Mountain against the principal and interest outstanding on the Convertible Note. Inter-Mountain then converted the remaining outstanding balance of the Convertible Note in accordance with the conversion provisions.

Commenting on the redemption, Kerry P. Gray, President and CEO of ULURU Inc., stated, "This financing vehicle has been an outstanding success, providing the necessary capital for the Company at a cost of capital that was significantly less than would have been possible using an alternative financing structure. Inter-Mountain has been a good financing partner particularly considering the ownership limitations that they have had to comply with. During the period of this financing, due in part to both the Company's performance and the financing structure, there has been a significant appreciation in the Company's share price.

About ULURU Inc.:
ULURU Inc. is a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery utilizing its innovative Nanoflex® Aggregate technology and OraDisc™ transmucosal delivery system.  For further information about ULURU Inc., please visit our website at www.ULURUinc.com.  For further information about Altrazeal®, please visit www.Altrazeal.com.

This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended.  These statements are subject to numerous risks and uncertainties, including but not limited to the cost of capital being significantly lower than other alternative financing structures and the risk factors detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2012, and other reports filed by us with the Securities and Exchange Commission.

Contact: Investor Relations

Contact: Company

Jim MacDonald

Kerry P. Gray

Torrey Hills Capital

President & CEO

(858) 456-7300

Terry K. Wallberg

Vice President & CFO

(214) 905-5145