Skin Elements Limited (ASX:SKN) announced that it has entered into a purchase agreement for an equity line round of funding for gross proceeds of AUD 20,000,000 on April 6, 2021. The transaction will include participation from new investor LDA Capital, LLC. The company will also issue 10,000,000 options with an exercise price of AUD 0.12 in the first tranche, 10,000,000 options with an exercise price of AUD 0.15 in the second tranche, 4,000,000 options with an exercise price of AUD 0.18 in the third tranche, and 2,000,000 options with an exercise price of AUD 0.22 in the fourth tranche. The expiry date of the options is 3 months from the date of issuance and the exercise price of the options is between AUD 0.12 and 0.22. The company has committed to issue a capital call notice for the first tranche by 16 April 2021. The company will pay the investor a commitment fee of AUD 400,000 which is payable in cash in four equal installments at closing of the company’s first four tranches. The transaction is expected to close in 36 months.