SOURCE: Enhance Skin Products Inc.

March 25, 2016 07:00 ET

Enhance Skin Products Inc. Announces the Repayment of Vis Vires Promissory Note

Repayment of Vis Vires Promissory Note and Development Update

RENO, NV--(Marketwired - Mar 25, 2016) -  Enhance Skin Products Inc. (OTCBB: EHSK), a pioneer in Hyaluronic Acid ("HA") research and development for deep hydration of the skin, announces the repayment of the Company's Vis Vires Promissory Note on March 23, 2016 in the amount of $33,344. In the event of non-payment the Company would have become due to pay 150% of the outstanding principal plus interest and the interest rate would have increased to 22% per annum until repaid or conversion took place. The repayment has been funded via an increase in advances from a related party.

Donald Nicholson, Enhance's President & CEO, stated that "we are delighted to be in a position to repay this Note as we seek to minimize shareholder dilution and engage long term investors willing to support the company's plans to launch its consumer products. Whilst the debt provided some short term working capital we feel that repayment now is in the best interests of all stakeholders as we seek to expand our shareholder base."

The Company is in the final stages of finalising its new brand identity and packaging, encompassing both the Visible Youth consumer and professional brands. We are also well advanced with the formulation of the first 6 direct to consumer products which are expected to be completed and placed on stability testing by the end of the current quarter. The first complete skincare system will comprise: a Cleansing melt, Pro Skin Facial Serum, Under Eye Super Serum, Moisturising Day Cream SPF30, Renewal Night Cream, and a Resurfacing toner. We are in advanced discussions with US marketing partners with the expectation of initial launch later this year.

Visible Youth™

The Visible Youth ™ consumer and professional skincare lines are based on a patented synergistic combination of Hyaluronic Acid and bioactive glass micro particles created by one of the world's leading authority in hyaluronic technologies. The brand has a pharmaceutical, research driven heritage based on over 30 years of pioneering research.

The VY™ skin care lines only utilize high purity, medical-grade HA of a specific combination of grade, purity and molecular size to provide optimum hydration and targeted dermal delivery. HA is a known anti-oxidant with moisturising, anti-oxidant, anti-wrinkle and dermal delivery properties. Bioactive glass micro particles have established strong anti-oxidant, anti-redness, anti-wrinkle, mineral enhancement properties and has strong anti-inflammatory activity. The patented HA Bioglass combination developed in collaboration with Schott AG is unique to Enhance. The Visible Youth formulations also include additional naturally derived ingredients specific to each skin care need.

Intellectual Property

Base patents for a stable cosmetic composition of HA and bioactive glass have been granted to Enhance in the USA, Australia, New Zealand, China and Japan. We are in final stages of patent prosecution in the European Union and Canada. The Company has also filed US and International patent applications for the use of HA and bioactive glass to enhance and extend the anti-wrinkle effects of cosmetic treatments associated with aesthetic injectables such as Botox (botulinum toxin) and cosmetic dermal fillers. The Visible Youth Trademark has been granted in USA, EU, Canada, France, Japan & Switzerland. A trademark application is currently in process in China.

Visible Youth Professional products focus on the treatment of skin after non-surgical procedures, an area the Company believes has been neglected by the market and for which it sees great potential. Central to the premium Visible Youth Professional brand are the proprietary patented, Healing Complex Plus 3% Lidocaine and Healing Complex. The Company is currently looking for development and marketing partners for its Professional products which will be only available through professionals such as dermatologists. aestheticians and skincare spas.

Certain statements contained in this document include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are usually accompanied by words such as "anticipate," "believe," "estimate," "may," "intend," "expect," "potential" and similar expressions. EHSK's actual results could differ materially from its historical results or from results implied by such forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by the forward-looking statements. Such factors include, but are not limited to, the risks and uncertainties identified by EHSK under the headings "Risk Factors" in its filings with the SEC. Forward-looking statements may also include, but are not limited to, statements about its funding activities, the current and future economic environment affecting EHSK and the markets it serves; the timely development, production and acceptance of new products and services; the timely grant of patents, the ability to attract development and marketing partners, sources of revenue and anticipated revenue, including the contribution from the growth of new products, services and markets; plans for future products and services and for enhancements to existing products and services; EHSK's ability to attract or retain customers; the outcome of any existing or future litigation; and EHSK's ability to increase its productivity and capacity. Undue reliance should not be placed on any of EHSK's forward-looking statements. Except as required by law, EHSK undertakes no obligation to update or announce any revisions to its forward-looking statements, whether as a result of new information, future events or otherwise.

*Botox® is a registered trademark of Actavis (formerly Allergan Inc).
*Vitryxx is a registered trademark of Schott AG

Contact Information

  • For your information:

    Enhance Skin Products Inc.
    50 West Liberty Street,
    Suite 880,
    Reno, Nevada 89501
    Tel: 416-306-2493