Download Media Release – Lodgement of Prospectus

BotanixAcquirerLodgesProspectusfor$3,000,000CapitalRaising
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BoneMedicalLimitedlodgedprospectustoraise$3,000,000withoversubscriptions
upto$500,000
FundstoacceleratethedevelopmentandcommercialisationofBotanixmedical
dermatologyproducts
ArgonautSecuritiesappointedleadmanager
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Perth, Australia; 16th May 2016: Medical dermatology company Botanix Pharmaceuticals
Inc(Botanix)announcedtodaythatitspotentialacquirer,BoneMedicalLimited(ASX:BNE)
(Bone)hadlodgedaProspectuswithASICforapublicoffertoraise$3,000,000beforecosts
withupto$500,000inoversubscriptions(Offer).TheOfferisforapplicantstoapplyforone
newfullypaidordinaryshare(NewShares)atanissuepriceof$0.02perNewShare.
TheProspectusalsocontainsseparateoffersforatotalof153,060,000ordinarysharesto
BotanixshareholdersinconnectionwiththeacquisitionofBotanix.
ArgonautSecuritiesPtyLimitedhasbeenappointedasLeadManagerfortheProspectus.
Botanix plans to invest the majority of the proceeds in the development of a novel
treatmentforacnewhichusesasyntheticformofthenaturalextractcannabidiol,whichis
currentlybeingstudiedbyarangeofotherpharmaceuticalcompaniesforthetreatmentof
pain,schizophreniaandotherdiseases.Botanixhaslicensedauniquedrugdeliverysystem
knownasPermetrex™tomoreefficientlydeliverysyntheticcannabidiolintotheskinforthe
treatmentofarangeofskindiseases.TheproceedsfromtheOfferwillalsobeusedtopay
costs,fundworkingcapitalandothercommitments.
CapitalStructure
TheSharecapitaloftheCompanyaftersuccessfulcompletionoftheOfferissummarisedin
thetablebelow:
Offer
OfferPrice
$0.02
SharesavailableundertheOffer
150,000,000
Totalproceeds(beforeexpenses)fromtheOffer
$3,000,000
Oversubscriptions
$500,000
Acquisition
TotalnumberofConsiderationShares
153,060,000
TotalNumberofAdvisorOptions(@$0.00001)
13,000,000
PostAcquisitionandOffer
ExistingSharesonissuepriortoOffer(postconsolidation)
77,338,971
Total number of Shares on Issue following Offer (excluding 380,398,971
Oversubscriptions)
IndicativemarketcapitalizationoftheCompanyattheOffer $7,607,979
Price(excludingOversubscriptions)
IndicativemarketcapitalizationoftheCompanyattheOffer $8,107,979
Price(includingOversubscriptions)
Following quotation, the New Shares will rank equally in all respects from the date of
allotmentwiththeexistingquotedsharesonissue.
The Offer is being undertaken pursuant to a prospectus issued in accordance with the
CorporationsAct(Prospectus).FulldetailsoftheOfferaresetoutintheProspectus.Ifyou
wouldlikeacopyoftheProspectus,pleasecontactBoneat+6194820580andBonewill
send you, at no cost, either a hard copy or an electronic copy of the Prospectus. The
Prospectuscanalsobeviewedonlineatwww.bone-ltd.com.
CompletionundertheProspectusissubjecttoanumberofConditions,includingreceiptof
thefollowingapprovalsfromtheshareholdersofBone,tobesoughtatthegeneralmeeting
tobeheldon14June2016:
1. ApprovaloftheBotanixacquisition–changeinActivities
2. ApprovaloftheConsiderationSharesandAdviserOptions
3. ApprovaloftheissueoftheOfferSharesundertheProspectus
4. AdoptionofanewConstitution
5. ChangeofCompanyname
FortheCompany’ssecuritiestobere-admittedtoOfficialQuotation,theCompanywillneed
tointeralia,re-complywithChapters1and2oftheASXListingRules,completetheOffer,
raisetheminimumsubscriptionandcompletetheBotanixAcquisition.
ThenewcompanyASXcodepostOffercompletionwillbe“BOT”.
Timetable
TheproposedtimetablefortheOfferissetoutbelow:
LodgementdateofProspectuswithASIC
OpeningDateofOffers
GeneralMeetingoftheCompany
ClosingDateoftheOffersandCompletionoftheAcquisition
Dispatchofholdingstatements
13May2016
13May2016
14June2016
14June2016
28June2016
ExpecteddatefortheSharestobereinstatedtotradingonASX
5July2016
The timetable is indicative only. The Company reserves the right to vary the dates, which
includes closing the Offer early or extending the close of the Offer, without notifying any
recipients of the Prospectus or any Applicants subject to the Corporations Act, the ASX
ListingRulesandotherapplicablelaws.Furthermore,datesaredependentonCompletion
and as such, satisfaction of all Conditions Precedent, which includes ASX providing its
conditionalapprovaltothereinstatementofBone’ssecuritiestoquotation.Accordinglythe
proposeddatesaremerelyindicativeandsubjecttoanumberoffactorsoutsidethecontrol
oftheCompany.
AboutBotanix
Botanixisdedicatedtodevelopingnextgenerationtherapeuticsforthetreatmentofserious
skin diseases. Our mission is to improve the lives of patients battling acne, psoriasis and
atopic dermatitis, by developing and providing new treatment options for conditions that
currently are inadequately addressed or are treated with therapeutics that are burdened
with significant side effects profiles. Botanix’ products under development harness the
untapped potential of a synthetic active pharmaceutical ingredient known as cannabidiol
which is currently being studied for the treatment of epilepsy, pain, arthritis and
schizophrenia amongst other indications. Botanix is preparing for the first human trials
utilisingsyntheticcannabidiolinaproprietarydrugdeliverysystem(Permetrex™)fordirect
skindeliveryofthetherapy.
Formoreinformation,pleasecontact:
Generalenquiries
MattCallahan
BotanixPharmaceuticalsInc
ExecutiveDirector
P:+12157674184
E:[email protected]
Mediaenquiries
ArthurChan
WEBuchan
P:(02)92372805
E:[email protected]
InvestorRelations
RebeccaWilson
BuchanConsulting
P:0417382391
E:[email protected]