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PURE TECH INTERNATIONAL, INC. ANNOUNCES REDEMPTION OF CLASS B WARRANTS

 SOMERSET, N.J., March 15 /PRNewswire/ -- Pure Tech International, Inc. (NASDAQ-NMS: PURT) today announced that it plans to call for redemption all of its outstanding Class B common stock purchase warrants (the "Class B warrants"). The company expects to send out the official notice of redemption making the call effective March 16, 1993. Pursuant to the terms of the Class B warrants, the company will redeem these warrants at the close of business on April 16, 1993 for $0.25 per Class B warrant. Each Class B warrant may be exercised until 5 p.m. (New York time) on April 16, 1993 for $7.50 to purchase one share of the company's common stock.
 On March 12, 1993, the closing price of the company's common stock on NASDAQ-NMS was $13.00 per share, and closing bid price of the company's Class B warrants was $5.00.
 The Class B warrants may be exercised upon surrender of the certificates to the company's warrant agent, American Stock Transfer and Trust Company, at 40 Wall Street, New York, NY 10005, telephone number 212-936-5100.
 If a Class B warrantholder elects not to exercise his or her Class B warrants, they may receive payment of the redemption price of $0.25 per Class B warrant by delivering the certificates to the company's warrant agent at the above address after April 16, 1993.
 Warrant certificates and exercise payments should not be sent to the company. Exercise instructions will be included in the official notice of redemption. The method of delivery of certificates and exercise payments representing Class B warrants to the warrant agent is at the election and risk of the holder. If by mail, the company suggests that the holder use properly insured registered mail with return receipt requested.
 Pure Tech International, Inc. is engaged in the recycling of post- consumer containers made of aluminum, glass, steel and plastic and operates a total of ten recycling facilities in the states of New Jersey, Connecticut, Michigan and Massachusetts.
 -0- 3/15/93
 /CONTACT: Mike Rietbrock of Davis Weinstock II, 212-953-2550, for Pure Tech International, Inc./
 (PURT)


CO: Pure Tech International, Inc. ST: New Jersey IN: ENV SU:

AH-OS -- NY081 -- 6228 03/15/93 16:45 EST
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Publication:PR Newswire
Date:Mar 15, 1993
Words:370
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