Enhance Skin Products Inc. (OTCMKTS:EHSK) Files An 8-K Other Events
Item 8.01 Other Events
As previously announced, on December 2, 2016, the Asset Purchase
Agreement (the APA) executed on October 1, 2016 between the
Company, Integumen Inc., Integumen Limited (now Integumen plc),
Donald Nicholson and Samuel Asculai was completed. to the APA,
the Company sold to Integumen Inc. substantially all of its
assets and certain of its liabilities.
The Company received 2,632,868 ordinary shares in Integumen plc
(Integumen) at a price of 1 per share. This comprised the total
consideration of 3,030,000 ($3,840,525) less assumed liabilities
of 320,209 ($416,272) and the amount of 76,923 ($100,000) owing
under the secured promissory note issued by the Company to
Integumen on July 7, 2016.
On March 24, 2017 the Company received an additional 2 ordinary
shares of Integumen bringing the total number of shares held to
2,632,870 ordinary shares. Integumen then undertook a capital
reorganization under which the Companys holding became 56 shares
for every 5 shares held resulting in a holding of 29,488,144
ordinary shares.
On April 5, 2017, Integumen raised 2.25 million ($2.8 million)
through the sale of 45,000,000 ordinary shares at a price of 5
pence per share and obtained admission of its ordinary shares to
trading on AIM (Admission). Dealings commenced on AIM on 5 April
2017 and the total market capitalisation of Integumen at
Admission was approximately 8.25 million ($10.26 million). At
Admission the Company held 29,488,144 fully paid ordinary shares
of one pence each of Integumen pre-admission or 24.56% of the
issued and outstanding shares of Integumen. Following the capital
raise and Admission, Enhance continues to hold 29,488,144 fully
paid ordinary shares of one pence each of Integumen representing
17.87% of the issued and outstanding shares of Integumen.
About Enhance Skin Products Inc. (OTCMKTS:EHSK)
Enhance Skin Products, Inc., formerly Zeezoo Software Corp., is a developer of cosmetic and cosmeceutical products. The Company offers its products under the Visible Youth trademark. Its Visible Youth skin care line utilizes medical-grade hyaluronic acid (hyaluronan or HA) of specific molecular size to deliver hydration to the skin. Its Visible Youth skin care line has products, including Visible Youth Revitalizing Skin Formula, which is a serum for topical treatment of all areas of the face and neck; Visible Youth Revitalizing Eye Zone Gel, which is used for the skin around the eye area; Visible Youth Revitalizing Moisturizer, which delivers hydrating nutrition to the skin and neck; Visible Youth Revitalizing Cleanser, a non-soap and non-alkaline gel; Visible Youth Healing Complex, which is a formulation of hyaluronic acid and bioactive glass, and Visible Youth Healing Complex Plus 3% Lidocaine, which is designed for application to skin after a professional skin-resurfacing procedure. Enhance Skin Products Inc. (OTCMKTS:EHSK) Recent Trading Information
Enhance Skin Products Inc. (OTCMKTS:EHSK) closed its last trading session up +0.00100 at 0.00500 with 41,657 shares trading hands.
