Highlights

  • Skin Elements has secured A$900,000 through a placement to sophisticated and professional investors.
  • The funds will support product development and strengthen working capital, advancing key skincare and biotechnology programs.
  • The company has also announced board remuneration changes and appointed Phoenix Global Investments for investor relations.

Overview

Skin Elements Limited (ASX:SKN) has successfully secured firm commitments to raise A$900,000 through a placement of fully paid ordinary shares to sophisticated and professional investors. The capital raising is aimed at strengthening the company's balance sheet and providing additional working capital to accelerate the development of its key product portfolio, including ECO Nurture, SuprCuvr, Soleo Organics, and PapayaActivs. Alongside the placement, Skin Elements has introduced board governance changes, revised director remuneration, and appointed Phoenix Global Investments to enhance its investor and public relations strategy.

How Will the A$900,000 Placement Support Skin Elements' Growth Strategy?

The company plans to use the proceeds to advance its existing product development programs, evaluate new commercial opportunities, and strengthen general working capital. Skin Elements will issue 300 million new shares at A$0.003 per share, representing a discount to the previous closing price and recent volume-weighted average price. Management said the successful placement reflects continued investor confidence in the company's long-term strategy and provides greater financial flexibility to execute growth initiatives while supporting future shareholder value creation.

What Other Corporate Changes Has Skin Elements Announced?

In addition to the capital raising, Skin Elements confirmed the appointment of Roderick Nicholas as Non-Executive Chairman following recent board changes. The company has also reduced annual base fees for non-executive directors as part of a board remuneration review. Furthermore, Phoenix Global Investments has been appointed to provide investor and public relations services under a 12-month agreement. As part of the engagement, Phoenix will receive 25 million shares at A$0.003 each, with the shares voluntarily escrowed for 12 months.