Business
GelStat Corporation Signs Binding Definitive Agreement to Acquire Mastix Medica, LLC
GelStat Corporation Signs Binding Definitive Agreement to Acquire Mastix Medica, LLC.
About this update from Gelstat Corp.
[{"type":"text","content":"\nGelStat Corporation Signs Binding Definitive Agreement to Acquire Mastix Medica, LLC\n\nGelStat Corporation Signs Binding Definitive Agreement to Acquire Mastix Medica, LLC\n\n\nAcquisition Expected to Add $2.0 Million in Revenue in the 2nd Half of 2014\n\nPALM CITY, FL--(Marketwired - June 05, 2014) - GelStat Corporation (PINKSHEETS: GSAC), a company engaged in the research, development, marketing and branding of innovative Over-the-Counter (OTC) consumer healthcare products, is pleased to announce it signed a definitive agreement to acquire Mastix Medica, LLC. The final closing of the acquisition is expected to take place on or before July 7, 2014. The acquisition is a significant milestone for GelStat and is expected to add over $500,000 in revenue in the third quarter ending September 30, 2014. Larry Gershman, GelStat's Chairman and CEO, said, \"The acquisition of Mastix Medica adds another dimension to GelStat that complements our present experience in product innovation and marketing. The vertical integration also enhances our profitability of recently introduced dietary supplement Chews 2 Lose™ appetite suppressant gum. More importantly, the acquisition brings to GelStat a key asset and foothold in the explosive high CBD/low THC industrial hemp and medical marijuana market. We are also excited to be adding Bob Estey to our management team as he brings a wealth of financial management experience as well as manufacturing capabilities to the GelStat team.\"Robert (\"Bob\") Estey said, \"I am delighted to become part of the GelStat team. The combination of their leading scientific advisors and marketing team with our unique, proprietary manufacturing processes makes us a vertically integrated one-stop shop for product innovation from concept through manufacturing, clinical validation and marketing. Furthermore, Larry's deep knowledge of the CBD market and vast industry connections worldwide have already opened up significant opportunities in this rapidly growing market.\" 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-informationABOUT MASTIX MEDICAMastix Medica was founded in 2009 to develop niche healthcare products in underutilized, emerg...