Sydney, Australia - Simavita Limited (ASX: SVA) ('Simavita' or the 'Company') is pleased to confirm the receipt of a first instalment of $212,000 under a Receivable Finance Facility secured by the Company's 2020 Australian Government's Research and Development Tax Incentive.

Further monthly instalments of approximately $42,400 will be received over the next 7 months, subject to a routine 6 monthly audit review. The total value of the facility for the 12 month period is estimated to be $508,800. Simavita has bought forward receipt of these funds in order to rapidly progress its discussions with a number of international manufacturing companies regarding its new transformational platform technology Smartz. The R&D Tax Incentive is an Australian Government program developed to assist businesses recover some of the costs of undertaking research and development.

Contact:

Tel: +61 421 466 653

About Simavita

Simavita (ASX: SVA) is a MedTech Company focused on the development of smart, wearable and disposable platform technologies for the health care market. Our key platform Smartz (formerly AlertPLUS) is a highly disruptive technology focused on transforming a traditional 'dumb' diaper into a smart device to help parents and carers of both infants and adults. With the support of our CDI holders, customers and employees, Simavita is absolutely committed to the business at hand; creating a commercially successful and growing corporation. www.simavita.com

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