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BotanixAcquirerLodgesProspectusfor$3,000,000CapitalRaising • • BoneMedicalLimitedlodgedprospectustoraise$3,000,000withoversubscriptions upto$500,000 FundstoacceleratethedevelopmentandcommercialisationofBotanixmedical dermatologyproducts ArgonautSecuritiesappointedleadmanager • 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]