Simavita Receives $1.27 Million Cash Payment Under R&D Tax Incentive Scheme

SYDNEY, AUSTRALIA--(Marketwired - Jan. 15, 2016) - Simavita Limited (TSX VENTURE:SV) (ASX:SVA) ("Simavita" or the "Company") is pleased to confirm the receipt of $1,266,862 under the Australian Government's Research and Development Tax Incentive Scheme. The claim covers the year ended 30 June 2015.

The Company may also be entitled to receive a further amount of approximately $75,000 in respect of its eligible overseas expenditure.

About Simavita

Simavita is a digital healthcare company that has developed an innovative software platform. The first application for the platform is a world first solution for the management of urinary incontinence, with a focus on the elderly. This platform technology is an instrumented incontinence assessment application that provides evidence-based incontinence management care plans to the residential aged care market.

About SIM™

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 sites 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 ("TSX-V") 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 the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this Release.
Except for historical information, this announcement may contain forward-looking statements that reflect the Company's current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause, but are not limited to, the anticipated date of on the ASX, changing market conditions, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process, and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting.