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SKIN ELEMENTS LIMITED — Capital/Financing Update 2023
Oct 22, 2023
65803_rns_2023-10-22_03b9b986-978b-44c6-866b-801e3b03a941.pdf
Capital/Financing Update
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23 October 2023
R&D tax rebate received and Placement
Australian Natural Biotechnology care company Skin Elements Limited (ASX: SKN) (Skin Elements, the Company) provides the following updates.
Research & Development Tax Rebate
As a result of the Company’s continuing commitment to the research and development of its SE Formula Natural Biotechnology, Skin Elements is pleased to advise that it has received the R&D Tax Rebate of $1,129,933 which results from the qualifying R&D expenditure invested in the 2023 financial year.
Placement
Skin Elements is also pleased to advise that it has completed a private placement to unrelated sophisticated investors raising $200,000 in cash (before costs). The Company will issue 20,000,000 SKN fully paid shares (under the Company’s ASX LR7.1A placement capacity) at $0.01 each with one attaching SKNOD option exercisable at $0.025 on or before 31 October 2025 (under the Company’s ASX LR7.1 capacity) for each new share issued.
An Appendix 3B, in relation to this placement follows, with securities to be issued by the end of the week.
This announcement has been approved by the Board of Directors of Skin Elements Limited.
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For further information please contact
Peter Malone Media and Investor Inquiries Executive Chairman James Moses Skin Elements Limited Mandate Corporate T: +61 439 430 770 T: +61 420 991 574 E: [email protected] E: [email protected]
About Skin Elements
Skin Elements (ASX: SKN) is an award winning Australian owned and operated ASX-listed Natural Biotechnology company focused on the development of its SE Formula Biotechnology. Skin Elements innovative and world leading approach to research and development of plant-based and organic sourced ingredients has enabled the creation of a portfolio of formulations that have global applications.
The SE Formula technology applications include the Soléo Organics natural and organic sunscreen, PapayaActivs natural therapeutics skincare, SuprCuvr TGA-registered hospital-grade plant-based disinfectant, and Eco Nurture agriculture bio-stimulant. Products within these groups are undergoing marketing testing and moving to commercialisation.
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Further information is available via the Company website: http://skinelementslimited.com and on the Company online store: www.sknlife.com.au.
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