|By Marketwired .||
|February 18, 2014 06:58 PM EST||
SYDNEY, AUSTRALIA -- (Marketwired) -- 02/18/14 -- Simavita Limited (ASX:SVA)(TSX VENTURE:SV) is delighted to announce that it will be admitted to the Official List of ASX Limited, with trading to expected to commence on Thursday, February 20, 2014 at 10.30 am (Sydney time) under the code "SVA".
The ASX listing follows Simavita's IPO and the TSX Venture ("TSXV") market debut on 6 December 2013, where the stock is listed and trades under the ticker "SV". Through the TSXV and ASX IPOs, Simavita raised a combined total of over A$14 million.
Almost half of the issue was subscribed for by existing Simavita shareholders. New investors into the stock include well known and successful Australian institutional and family office investors, as well as some individual larger high net worth investors and smaller retail investors.
Speaking from the United States, CEO of Simavita, Philippa Lewis commented: "The ASX listing marks the start of a busy and important year for Simavita as we also commence our first sales of in the United States of SIM(TM), our break-through incontinence management medical device with our exclusive U.S. distributor.
"We're very proud to list on the ASX and our dual listing with the TSXV enables Simavita to remain close to important opportunities in North America and regional investors as we commence our game-changing push into that market".
For further information, please check our website (www.simavita.com) or contact the persons outlined below.
Simavita is a medical device company that has developed an innovative, world first solution for the management of urinary incontinence, with a focus on the elderly. The first product is the SIM(TM) platform technology which is an instrumented incontinence assessment application that provides evidence based incontinence management care plans to the residential aged care market.
SIM(TM) is a wireless sensor technology that delivers evidence-based instrument incontinence data on individuals. SIM(TM) provides user friendly tools and software to assess the incontinence condition and to help plan better outcomes. SIM(TM) is used to detect, record and report incontinence events during a compulsory or recommended assessment period in residential aged care facilities to develop an evidence-based incontinence care plan.
Conducting assessments is mandatory in many countries and the incontinence assessment creates an influential element of care of each individual. For more information on Simavita or SIM(TM), please visit www.simavita.com.
The TSX Venture Exchange has in no way passed upon the merits of the transactions set out herein and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange not its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.
Except for historical information, this announcement may contain forward-looking statements that reflect the Company's current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause, but are not limited to, the anticipated date of on the ASX, changing market conditions, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process, and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting.
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