PALM CITY, FL--(Marketwired - October 23, 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 closed the acquisition of CBD Life Sciences, Inc.
Concurrent with the closing of the transaction, Larry Gershman has been appointed as CEO and Chairman of the Board. Gerald Kieft, the Company's prior CEO, will assume the position of CFO and be appointed to the Board of Directors. As part of this acquisition, GelStat has acquired the exclusive rights to multiple products owned by CBD Life Sciences, Inc. The initial marketing efforts will be focused on the re-launch of GelStat Migraine (a patented homeopathic migraine pain reliever) and the initial launch of Chews 2 Lose (an all natural appetite suppressant chewing gum).
Gerald Kieft, GelStat's CFO, said, "Over the past few months, the Company has worked very closely with Mr. Gershman and we are ready to execute our marketing strategy to drive revenue growth. Furthermore, a significant amount of the work had already been completed enabling a rapid start." Mr. Kieft went on to say that, "With the benefit of hindsight, it is clear that Larry is the right person to take GelStat to the next level. His vast knowledge of branding and marketing is without question as well as his understanding of all aspects of our business including product formulations, manufacturing, packaging and distribution."
The Company expects to complete the following milestones within 90 days:
Larry Gershman, GelStat's incoming CEO, said, "While we have made progress over the past few months, I'm looking forward to shifting into growth mode. GelStat's capital structure and existing products combined with CBD's additional products and proven marketing strategies creates an ideal platform to build a leading nutraceutical company."
Make sure you are first to receive timely information on GelStat Corporation when it hits the newswire. Sign up for GelStat's email news alert system today at: http://ir.stockpr.com/gelstat/request-information.
ABOUT LARRY GERSHMAN
Larry has been one of the most successful people 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 six 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 CHEWS 2 LOSE
Chews 2 Lose is an innovative diet aide in the form of an all-natural appetite suppressant gum designed as an ultra-convenient way to help dieters from cheating. One of the top reasons diets fail is a craving to cheat regardless of what type of weight loss regimen you're on; so now there's a way to "beat the cheat" by simply chewing gum.
Marketed for use with any diet plan in existence, Chews 2 Lose will not be limited by appealing to only one specific dieter segment, like the "wonder" pill popper or exercise DVD buyer, nor will the potential sales be limited by selling to only one such segment. Whatever they're using to lose weight, the likelihood of success is far greater with Zero Calorie Chews 2 Lose nearby to crush that craving in its tracks.
According to Marketdata Enterprises, Inc., a leading independent market research publisher of "off-the-shelf" studies about service industries since 1979, an estimated 75 million dieters spent $2.7 billion in 2010 on diet pills and meal replacements.
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.
Decision Resources, one of the world's leading research and advisory firms for pharmaceutical and healthcare issues, expects the market for migraine therapies to grow from $3.3 billion in 2011 to $5.8 billion in 2021 in the United States, France, Germany, Italy, Spain, the United Kingdom and Japan.
The total over-the-counter market for sleep aids alone reached $604 million in 2008, an increase of 9 percent over 2007, according to Packaged Facts, a division of Rockville, Md.-based Market Research Group. 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.
Source: GelStat Corporation