PURE Bioscience Completes Successful Warrant Tender Offer and Raises $2.8 Million from Exercise of Warrants

SAN DIEGO–(BUSINESS WIRE)–$PURE #Offer–PURE Bioscience, Inc. (OTCQB:
PURE), creator of the patented, non-toxic silver dihydrogen citrate (SDC)
antimicrobial, announced today that on October 10, 2017 it successfully
completed a tender offer to amend and exercise three classes of
outstanding warrants issued to investors who participated in its 2014,
2015 and 2017 private placement financings. PURE raised approximately
$2.8 million in gross cash proceeds from the exercise of 4,756,163
outstanding warrants as part of the tender offer.

PURE offered its existing warrant holders the opportunity to exercise
their warrants in cash at reduced exercise prices. Approximately 64% of
the Company’s outstanding warrants were exercised in the tender offer.

Net proceeds are anticipated to be approximately $2.6 million after
deducting warrant solicitation agent fees and other offering expenses
and are expected to be used for working capital and general corporate
purposes.

Hank
R. Lambert, Chief Executive Officer, said that, “We are pleased with
the broad support and participation of our existing investors in the
tender offer. The purpose of the tender offer was to raise non-dilutive
funds to support the Company’s operations. Also important is the fact
that the tender offer and warrant exercises streamlined the Company’s
capital structure and eliminated its warrant derivative liability
– thus helping the Company prepare for a potential future uplisting to a
national stock exchange.

“We believe that the net proceeds from the tender offer will support
PURE’s execution of its commercialization strategy, and will help drive
us to our goal of cash flow breakeven by calendar Q4 2018,” concluded
Lambert.

Garden State Securities Inc. assisted the Company as warrant
solicitation agent with respect to the warrants issued in the 2017
private placement financing.

The complete terms of the tender offer were set forth in the Tender
Offer Statement on Schedule TO and related exhibits, including the Offer
to Amend and Exercise, filed with the Securities and Exchange Commission
(the "SEC") on August 25, 2017, as amended. The warrants issued in the
2017 private placement were exercised pursuant to a prospectus filed
with the SEC on September 6, 2017, as amended, under a post-effective
amendment to the existing registration statement on Form S-1 (File No.
333-215915), which was declared effective by the SEC on September 1,
2017. Copies of the Schedule TO, the Offer to Amend and Exercise, the
prospectus and other related materials are available on the SEC's
website, at www.sec.gov.

About PURE Bioscience, Inc.

PURE Bioscience, Inc. is focused on developing and commercializing our
proprietary antimicrobial products primarily in the food safety arena —
providing solutions to the health and environmental challenges of
pathogen and hygienic control. Our technology platform is based on
patented stabilized ionic silver, and our initial products contain
silver dihydrogen citrate, or SDC. SDC is a broad-spectrum, non-toxic
antimicrobial agent, which offers 24-hour residual protection and
formulates well with other compounds. As a platform technology, SDC is
distinguished from existing products in the marketplace because of its
superior efficacy, reduced toxicity and it mitigates bacterial
resistance. PURE is headquartered in El Cajon, California (San Diego
metropolitan area). Additional information on PURE is available at www.purebio.com.

Forward-looking Statements

Any statements contained in this press release that do not describe
historical facts may constitute forward-looking statements as that term
is defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and uncertainties
that could cause our actual results to differ materially from any
forward-looking statements. Factors that could cause or contribute to
such differences include, but are not limited to, the Company’s failure
to implement or otherwise achieve the benefits of its proposed business
initiatives and plans; acceptance of the Company's current and future
products and services in the marketplace, including the Company’s
ability to convert successful evaluations and tests for PURE Control
into customer orders and customers continuing to place product orders as
expected and to expand their use of the Company’s products; the ability
of the Company to develop effective new products and receive required
regulatory approvals for such products, including the required data and
regulatory approvals required to use its SDC-based technology as a
direct food contact processing aid in raw meat processing and to expand
its use in OLR poultry processing; the Company’s ability to successfully
complete in-plant tests of PURE Control; competitive factors; the
Company’s dependence upon third-party vendors, including to manufacture
its products; and other risks detailed in the Company's periodic report
filings with the Securities and Exchange Commission (the SEC), including
its Form 10-K for the fiscal year ended July 31, 2016, its Form 10-Q for
the first quarter ended October 31, 2016, second quarter ended January
31, 2017, and third quarter ended April 30, 2017. You should not place
undue reliance on these forward-looking statements, which speak only as
of the date of this press release. By making these forward-looking
statements, the Company undertakes no obligation to update these
statements for revisions or changes after the date of this release.

Contacts

PURE Bioscience, Inc.
Hank Lambert, CEO
619-596-8600 ext.103
[email protected]
or
Bibicoff
+ MacInnis, Inc.
Terri MacInnis, VP of IR
818-379-8500
[email protected]
or
Redwood
Investment Group
Tom Hemingway
714-978-4425
[email protected]