SYDNEY, AUSTRALIA--(Marketwired - Feb. 11, 2014) - Simavita Limited ("Simavita" or the "Company") (TSX VENTURE:SV) today announced it has received conditional approval from the Australian Securities Exchange ("ASX") Official List for trading of its CHESS Depositary Interests ("CDI").
Pursuant to the Simavita press release issued December 19, 2013, the Company filed with the Australian Securities and Investment Commission a prospectus only in Australia and the offering has now closed. Over A$400,000 was raised, with a total of 990,159 CDIs subscribed for at an issue price of A$0.41 per CDI.
For further information, please check our website (www.simavita.com) or contact the persons outlined below.
Simavita is a medical device company that has developed an innovative, world first solution for the management of urinary incontinence, with a focus on the elderly. The first product is the SIM™ platform technology which is an instrumented incontinence assessment application that provides evidence based incontinence management care plans to the residential aged care market.
SIM™ is a wireless sensor technology that delivers evidence-based instrument incontinence data on individuals. SIM™ provides user friendly tools and software to assess the incontinence condition and to help plan better outcomes. SIM™ is used to detect, record and report incontinence events during a compulsory or recommended assessment period in residential aged care facilities to develop an evidence-based incontinence care plan.
Conducting assessments is mandatory in many countries and the incontinence assessment creates an influential element of care of each individual. For more information on Simavita or SIM™, please visit www.simavita.com.
The TSX Venture Exchange has in no way passed upon the merits of the transactions set out herein and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange not its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.
Except for historical information, this news release may contain forward-looking statements that reflect the Company's expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause, but are not limited to, changing market conditions, the successful completion of the listing of Simavita's CDI's on the Official List of the ASX, uncertainties related to the regulatory approval process, and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting.