PureSafe Announces Significant Debt Reduction Agreements

PLAINVIEW, N.Y., Feb. 12, 2015 /PRNewswire/ -- PURESAFE WATER SYSTEMS, INC. (OTCBB: PSWS), a leading manufacturer of a unique patented mobile water filtration system, announced today that it had completed negotiations with current and former officers of the Company resulting in a significant reduction of the Company's Debt and contractual obligations.  Under the agreements, the Company settled Debt and other obligations approximating $2,300,000 in exchange for the issuance of Preferred Stock to the three current and former officers, each of which in their particular settlement will receive shares of a new special series of Preferred Stock.  The three new series of Preferred Stock issued to these current and former executives has a combined stated value of $635,000. The first Preferred series has a stated value of $110,000, is not convertible and provides for a monthly payout. The second series has a stated value of $200,000 and is convertible into common stock at a conversion price of $.002 per share.  The stated value of the third series is $325,000, and this series is convertible at a conversion price of $.0005 per share of common stock.

Stephen Hicks, President of PureSafe commented: "I would like to thank present and former officers of the Company for their cooperation in strengthening the financial picture of the Company as it moves forward with the full commercialization of the Mobile Purification Unit. As we continue to aggressively implement the business plan, this is a very solid step in the right direction."

About PureSafe

PureSafe Water Systems, Incorporated (OTCBB: PSWS), is a publicly held US company traded with a unique patented mobile water filtration system that was designed to be both an emergency response water filtration system, as well as, a permanent solution where drinkable water is not available. The self-contained and self-powered PureSafe System can be mobilized to a site and within 30 minutes will produce drinking quality water from flood waters, surface and fresh water, desalinating ocean and/or brackish waters. This mid-range, 30,000 gallon per day system has also found a huge application in known contaminated water sources where water clarity, water borne disease and high bacteria content exist, and where mobile, self-contained systems are applicable to bring clean water to the population wherever they are located. The system can dispense water in bulk, by container or in half liter plastic bags to suit the situation.

www.puresafewatersystems.com

SOURCE PureSafe Water Systems, Inc.

Related Links

http://www.puresafewatersystems.com