Two-tranche placement for $2.5 million

• Binding commitments received for $2.5 million two-tranche placement
• Placement price of $0.002 per share, with one free attaching option per two shares
• Proceeds to be used for completing SE Formula biotechnology development program

Skin Elements Limited (ASX: SKN) has announced that it has received binding commitments for a $2.5 million two-tranche placement at $0.002 per share, together with one free attaching unquoted option for every two shares issued (exercisable at $0.006 and having an expiry date three years from date of issue). The placement will be conducted in two tranches, with the first tranche of $315,000 to be raised under the company's existing placement capacity, and the second tranche of $2,185,000 to be raised subject to shareholder approval at the upcoming Annual General Meeting. The placement price of $0.002 per share represents a 33% discount to the last closing price and a 19% discount to the 15-trading day volume weighted average trading price. The funds raised will be used to complete the company's development program for its award-winning SE Formula biotechnology, including the commercialization of its flagship products such as the Soleo Organics sunscreen, PapayaActivs therapeutic skincare range, SuprCuvr disinfectant, and ECO-Nurture agriculture biostimulant.