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Acura Pharmaceuticals Announces Conversion of Debt

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PALATINE, Ill., June 14, 2021 (GLOBE NEWSWIRE) — Acura Pharmaceuticals, Inc. (OTCQB: ACUR) today announced that Abuse Deterrent Pharma, LLC (“AD Pharma”) has converted the entire principle and accrued interest of its Secured Promissory Note (the “Note”) with the Company into shares of the Company’s common stock. Effective with this conversion, the Note is retired and the Company is working with AD Pharma to release their security interest in all the Company’s assets. Under the terms of the Note, AD Pharma elected to convert the $6.9 million outstanding principal and accrued interest at $0.16 per share yielding 42,984,375 newly issued common shares. The Company’s total common shares outstanding is now 65,089,043.

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