Subject to a definitive agreement, the company’s Board of Directors has approved the issuance of approximately 15.3 million ordinary shares at US65c per share and warrants to purchase 7.2 million ordinary shares at US75c per share.

The investment, which will require the approval of NUR`s shareholders, also remains subject to completion of due diligence examinations by Inspire.

In conjunction with the aforementioned transaction, Dan Purjes, NUR chairman and a major shareholder of NUR, has decided to resign from the board of directors, effective immediately. Robert Hussey has taken on the role as acting chairman, while Tamar Peeler, an experienced hand in finance, will fill the gap left in the board.

In addition, Purjes has agreed to enter into a voting agreement with Inspire pursuant to which voting control over all shares owned by him will be assigned to Inspire. In consideration of Purjes entering into the voting agreement, Inspire will assign to him three million of the warrants.

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