GelStat Corporation Executes Letter of Intent to Acquire a Deep Product Pipeline and Appoint Highly Accomplished Marketing Ex...
June 10 2013 - 7:10AM
Marketwired
PALM CITY, FL--(Marketwired -
June 10, 2013) - GelStat Corporation (PINKSHEETS: GSAC), a
consumer healthcare company primarily focused on the development
and marketing of over-the-counter (OTC) products, is pleased to
announce that it has executed a Letter of Intent (LOI) to acquire
the rights to multiple products presently under the control of
Larry Gershman. The transaction is subject to the completion
of standard due diligence and closing conditions. The
transaction is expected to close within 45 days.
Upon closing of the transaction, Larry Gershman will assume the
position as CEO and Chairman of the Board. Gerald Kieft, the
Company's present CEO, will assume the position of CFO. GelStat
will also acquire the exclusive rights to multiple products
presently under the control of Mr. Gershman, including but not
limited to:
- An all natural appetite suppressant chewing gum
- An all natural energy product
- A joint pain lubricant and cartilage renewal product
- A silver nano-particles anti-microbial and anti-acne face
product
Gerald Kieft, GelStat's CEO, said, "We have been in discussions
with Larry Gershman for many weeks and we are very excited to
execute the LOI. This is an important milestone for GelStat as
it is an extremely synergistic transaction that brings products and
management depth to the Company. It also validates GelStat's
strategy to aggressively pursue acquisition targets that possess
products with proven science, marketing or
distribution. Additionally, it fits into the Company's goal of
becoming a global healthcare products company. Mr. Gershman's vast
experience as a senior executive at top marketing firms and
healthcare companies is exactly what GelStat needed to take the
company to the next level. He has led many consumer product
launches in the past that have generated tens of millions of
dollars in revenue."
Larry Gershman, GelStat's incoming CEO, said, "GelStat's
existing products and public vehicle provided the perfect platform
to build an industry leading healthcare company. I have helped
to build many multi-million dollar brands over my career and I'm
excited to bring that expertise to GelStat and its
shareholders."
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ABOUT LARRY GERSHMAN
Larry has been one of the most successful icons in the world of
advertising, integrated marketing, promotions, direct response and
digital media. He has won the coveted Promotion of the Year Award
an unprecedented 6 times and was Promotion Man of the Year twice.
His long and varied client list includes: Revlon, Gillette, Ford,
Mazda, Citigroup, Kraft, Pepsi, RC Cola, Burger King and McDonald's
to name but a few.
Larry's management skills have been proven repeatedly during his
career having owned, built and managed some of the most successful
marketing companies in the World, including Ogilvy & Mather,
Integrated Communications Group, Marden Kane, The Howard Marlboro
Group, Integrated Marketing & Promotional Solutions ("IMPS")
among others.
ABOUT GELSTAT CORPORATION
GelStat Corporation is dedicated to providing safe and effective
over-the-counter (OTC) treatments. GelStat's first two products
GelStat Migraine and GelStat Sleep are sold through
direct-to-consumer channels as well as in a limited number of
independent retailers and pharmacies. The Company also has a suite
of additional healthcare products in various stages of development
that address large consumer markets. For more information, visit
www.gelstat.com.
Safe Harbor Statement
This press release and the shareholder letter contains
forward-looking statements including pursuing strategic
relationships, building and leveraging a direct-to consumer
platform to launch new products, acquiring or licensing the rights
to products with proven science, growing organically and
achieving each of the goals mentioned
above. Forward-looking statements can be identified by words
such as "anticipates," "intends," "plans," "seeks," "believes,"
"estimates," "expects" and similar references to future
periods.
Forward-looking statements are based on our current expectations
and assumptions regarding our business, the economy and other
future conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict. Our actual
results may differ materially from those contemplated by the
forward-looking statements. We caution you therefore against
relying on any of these forward-looking statements. They are
neither statements of historical fact nor guarantees or assurances
of future performance. Important factors that could cause actual
results to differ materially from those in the forward-looking
statements include the failure of our products to be accepted,
failure to obtain partners to market and distribute our products,
unanticipated delays in launching website or failure of the website
to generate revenues, our inability to find a target to acquire on
mutually acceptable terms, and the inability to get our reports
prepared and filed timely as a result of unforeseen audit
issues.
Any forward-looking statement made by us in this press release
speaks only as of the date on which it is made. Factors or events
that could cause our actual results to differ may emerge from time
to time, and it is not possible for us to predict all of them. We
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by law.
FOR ADDITIONAL INFORMATION CONTACT:Gerald KieftCEOGelStat
Corporation772-283-0020
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