May 5, 2005
Skinvisible Sells World Wide License for $1 Million
Marketing and Distribution Rights Sold for Patented Antimicrobial Hand Sanitizer
Skinvisible, Inc. (OTC Bulletin Board: SKVI) (Website: www.skinvisible.com) announced today that it has entered into a definitive distribution agreement with Safe4Hours, Inc., a Nevada corporation, to sell the exclusive marketing & distribution rights for all countries of the world except Canada, Mexico and the United States for Skinvisible's patented antimicrobial hand sanitizer, incorporating 1% Triclosan, and its patented Invisicare(R) polymer delivery system.
Under the terms of the agreement, Safe4Hours, Inc. is required to pay an up-front fee of $1 million, with an initial non-refundable deposit of $75,000 and the remaining $925,000 payable in quarterly installments based upon a predetermined formula until the entire $925,000 is received. In addition and further to the payment fee of $1 million Safe4Hours, Inc. agreed to pay a royalty fee of 5% on product sales of the antimicrobial hand sanitizer with minimum royalties due each calendar quarter.
Mr. James Graves, President of Safe4Hours, Inc. states that "since we are receiving interest from so many countries including Asia and the Middle East for the hand sanitizer it became apparent that we had to have the exclusive rights to this product for the entire world." The product has been successfully introduced in the US to law enforcement, fire, rescue and the US military. In addition the product is widely used in the Food Industry including hotels, casinos and restaurants in the fight to stop the spread of germs caused by cross contamination through hand to hand contact.
"On February 23, 2005 we announced the sale of the exclusive marketing & distribution rights for Canada, Mexico and the United States for the hand sanitizer. This new agreement means that this product has now been licensed world wide, allowing us the opportunity to stay focused on the research and development of new polymer technologies and formulations while providing us with the receipt of revenue from license fees, product sales and royalties," says Mr. Terry Howlett, Skinvisible's President.
Headquartered in Las Vegas, Nevada, Skinvisible, Inc. is a research and development company that has formulated and patented innovative polymer delivery system technology and compositions for topical skin applications. Skinvisible's primary marketing and sales objective is to license its technology and sell its trademarked polymer delivery vehicles to established dermatological, medical, cosmetic, and skincare brand manufacturers. Skinvisible also produces a variety of skincare products for private label clients.
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 10KSB for the year ending December 31, 2005).
For Corporate Information Contact: T. Howlett -- Skinvisible, Inc. -- Ph. (702) 433-7154 / Fax (702) 433-7192 / Email: terry@skinvisible.com
Media Contact: Tommi Hanley -- Thompson Lloyd Communications -- Ph. (250) 860- 9959 / Email: tommi.tlc@shaw.ca
T. Howlett of Skinvisible, Inc., +1-702-433-7154, or fax, +1-702-433-7192, terry@skinvisible.com; or Media, Tommi Hanley of Thompson Lloyd Communications, +1-250-860-9959, tommi.tlc@shaw.ca, for Skinvisible, Inc.
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