News: Continuation Investments in halt regarding acquisition

Continuation Investments (ASX:COT) has been granted an ASX trading halt relating to its proposed acquisition of The BioFusionary Corporation, which has developed a heat treatment device for skin tightening.

The halt will last until the earlier of the announcement being made or the start of trading on Friday, 19 September 2014.

Continuation has previously announced that it is acquiring The BioFusionary Corporation through the issue of 100 million shares.

The BioFusionary Corporation’s first FDA approved1 innovation is the BioFusionary Bebe, a non-invasive device that uses high-frequency electromagnetic induction to achieve significant skin tightening in clinical trials.

First Bebe sales are expected in the U.S. in the fourth quarter of 2014 prior to a global launch in 2015.

It also has a pipeline of therapeutic applications for its unique technology including the treatment of incontinence and soft tissue manipulation.

Shares in Continuation closed at $0.145 on Wednesday, 17 September 2014.

The company had $1.48 million in cash as at 30 June 2014.

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