October 30, 2003
Skinvisible's Antimicrobial Hand Sanitizer to Be Distributed Throughout North, Central and South America
LAS VEGAS, Oct 30, 2003 /PRNewswire-FirstCall via COMTEX/ --
Skinvisible, Inc. (OTC Bulletin Board: SKVI) ( www.skinvisible.com ) announced that its wholly owned subsidiary Skinvisible Pharmaceuticals, Inc. has signed a Letter of Intent with Canadian-based Health First Distributors North America, Inc., for an Agreement granting them the exclusive right to market and distribute Skinvisible's patented Antimicrobial Hand Sanitizer throughout North, Central and South America.
In addition, the arrangement will give Health First access to Skinvisible's product formulation research studies, as well as the right to use the Skinvisible product name for marketing purposes.
As a condition precedent to entering into a formalized License Agreement, Health First has agreed to pay Skinvisible $1 Million USD under the following terms: a) a non-refundable deposit of $100,000 USD which has been received b) a further non-refundable deposit in the amount of $100,000 USD on or before November 30, 2003; and c) the remaining balance of $800,000 USD shall be paid on or before December 30, 2003. In the event that Health First does not make the required payments as set forth above, Skinvisible may at its sole option terminate negotiations and retain, without claim or demand from Health First, any deposits paid. Skinvisible will manufacture the product for Health First and receive a royalty on product sales for the use of its name.
The founders and management of Health First offer extensive knowledge and connections related to marketing consumer products. They have established distributors in the health-care, hospitality industry and retail markets as well as marketing via TV infomercials.
'This Agreement allows us the opportunity to stay focused on the research and development of new polymer technologies and formulations while providing a steady stream of revenue from product sales and royalties,'says Mr. Terry Howlett, Skinvisible's President. 'It makes the most sense for us to gain brand exposure through a company which understands marketing,'he continues 'We are excited about the possibility of introducing Skinvisible's hand sanitizer into South America.'
Skinvisible's antimicrobial formulation incorporates its proprietary Invisicare(R) polymer delivery system. Notable, proven advantages of the formulation include its ability to adhere to the skin thereby forming a protective bond. It resists both wash-off and perspiration while holding the active ingredient Triclosan on the skin for extended periods of time. Independent studies demonstrate that the active agent stays on the skin for up to 4 hours per application, providing a continuous kill of most bacteria tested during that time even with frequent hand washing.
Skinvisible's hand sanitizer offers the additional advantage of being alcohol-free. In comparison, alcohol-based sanitizers typically provide instant protection but offer no long-term persistence; they wash off thereby requiring frequent reapplication, and sometimes cause adverse reactions. Although proven to be effective on its own, Skinvisible's hand sanitizer was specifically designed to be a complementary adjunct to hand washing rather than a replacement.
Headquartered in Las Vegas, Nevada, Skinvisible, Inc. is focused on the development of innovative topical polymer-based delivery systems and related technologies incorporating its patent-pending formula/process for combining hydrophilic and hydrophobic polymers into stable water emulsions. Skinvisible's primary marketing and sales objectives are to license its technologies and/or sell its delivery systems to provide enhanced product performance for established brand manufacturers and providers of prescription, over-the-counter, cosmetic, and skincare products. In addition Skinvisible formulates and manufactures products for private label customers.
This press release contains 'forward looking'statements within the meaning of Section 21A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 as amended, and are subject to the safe harbors created thereby. Such statements involve certain risks and uncertainties associated with an emerging company. Actual results could differ materially from those projected in the forward looking statements as a result of risk factors discussed in Skinvisible, Inc. reports that will be on file with the US Securities and Exchange Commission (including but not limited to the report on Form 10-QSB for the quarter ending June 30, 2003).
For further information, please contact: T. Howlett of Skinvisible, Inc., +1-702-433-7154, or fax, +1-702-433-7192, terry@skinvisible.com.
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