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Skinvisible Update to Shareholders Re Merger and Reverse Split

LAS VEGAS, NV - January 8, 2019 Skinvisible, Inc. ("Skinvisible") (OTCQB: SKVID), is pleased to provide an update on the results of the Special Meeting of Stockholders regarding a potential merger of Skinvisible, Inc. with and into Quoin Pharmaceuticals Limited ("Quoin") subject to tax, accounting, legal, regulatory, and other considerations (the “Merger”) and the Reverse Split, effective January 2, 2019.

On November 26, 2018, Skinvisible held a Special Meeting of Stockholders at which time the holders of Company common stock as of the record date of October 19, 2018, voted on four proposals. Each proposal was described in detail in the Company’s definitive proxy statement, and includes: (1) Adoption of the Merger between Quoin and Skinvisible; (2) Effect a Reverse Split of the Company’s common stock; (3) Approve a name change to Quoin Pharmaceuticals, Inc.; (4) Approve to adjourn the Special Meeting to a later date if necessary. There were 144,830,920 shares of Company common stock issued and outstanding and entitled to vote at the Special Meeting and the holders of a total of 99,993,419 shares of Company common stock, approximately 69%, were present in person or represented by proxy at the Special Meeting. The final vote tally shows that all four proposals were approved by the holders of a majority of the outstanding shares of Company common stock.

Reverse Split:
Prior to approval of the reverse split the Company had a total of 144,830,920 issued and outstanding shares of common stock. On the effective date of the reverse split of fifty-for-one, the Company will have a total of 2,896,619 issued and outstanding shares of common stock. Furthermore, Skinvisible has a new CUSIP number: 830703 203, effective January 2, 2019. Skinvisible common stock will be quoted under the symbol “SKVID” for a period of 20 trading days after which it will trade under the symbol “SKVI” until the completion of the Merger. The Merger proposal specifies that privately-held Quoin Pharmaceuticals Inc. will merge into a wholly-owned subsidiary of Skinvisible and is conditional on Quoin completing a capital raise of a minimum of $10 million.

About Quoin Pharmaceuticals, Inc.

About Quoin Pharmaceuticals, Inc. Quoin Pharmaceuticals is a specialty pharmaceutical company dedicated to developing products that help address major societal issues including the opioid crisis and the military veteran suicide rate. Quoin’s two lead products are expected to be different applications of an NMDA receptor antagonist delivered transdermally. QRX001 is a single use transdermal patch designed to provide up to 72 hours of effective post-operative analgesia whilst significantly reducing opioid consumption. QRX002 is a once-daily transdermal for the treatment of military related PTSD with suicidal ideation. Quoin believes QRX002 could be the first product approved to treat this major unmet medical need and could be a candidate for both Orphan Drug and Breakthrough Therapy Status. Quoin expects to commence development activities with respect to each of these products and to generate Phase 2 data in 2019. quoinpharma.com

 

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