ST. PAUL, MN -- (MARKET WIRE) -- 01/08/07 -- GelStat Corporation (PINKSHEETS: GSAC), a consumer healthcare company primarily focused on the development and marketing of over-the-counter (OTC) products for the safe and effective treatment of pain and inflammation, announces that Gary Reich was appointed to serve as President and Chief Executive Officer of the Company. Mr. Reich replaces Richard Ringold who has decided to leave the company to pursue other interests.
Jim LaFlamme who was simultaneously appointed as the Company's Chairman of the Board of Directors, stated, "I want to thank Richard for his tireless efforts at GelStat and wish him the best of luck with his future endeavors. Without Richard's unwavering devotion to the Company we would not have the opportunity we have today." Mr. LaFlamme also said," We are excited that Mr. Reich has accepted the position as the Company's President and CEO. His extensive marketing and sales experience with a broad range of consumer health care products is precisely what the Company needs at this stage of its evolution. GelStat has built a very valuable portfolio of OTC healthcare products including GelStat(TM) Migraine, GelStat(TM) Arthritis, GelStat(TM) Sleep and GelStat(TM) Sinus. With all of these products fully developed, it is now the time to build brand awareness and sales."
Mr. Reich brings to GelStat over 20 years of marketing, sales and business development experience including numerous executive positions. Mr. Reich has successfully launched pharmaceutical, nutritional and OTC healthcare products; developed and executed numerous business plans; and developed trade policies and practices. He has provided representation, forecasting, marketing, sales, invoicing, collection and inventory control systems; as well as successfully integrating product acquisitions and the management of rapid sales growth.
Mr. Reich commented, "The world has become more health conscious, which has fueled the demand for dietary supplements and homeopathic healthcare products containing tried and true ingredients. GelStat's current products address a broad range of health issues that affect more than 100 million consumers in the U.S. alone. With the proper brand awareness, marketing and advertising campaigns, GelStat has enormous market potential to grow into a leader.
ABOUT GELSTAT CORPORATION
GelStat Corporation is dedicated to providing safe and effective over-the-counter (OTC) treatments for pain and inflammation. GelStat's first product, GelStat Migraine, is sold nationwide through retail chain stores, independent retailers and pharmacies, and direct to consumer channels. GelStat Migraine is a sublingually (under the tongue) administered OTC medication for acute relief from the pain and associated symptoms of migraine. Over 90 percent of the 30 million Americans with migraine use OTC headache remedies, generally aspirin or other non-steroidal anti-inflammatory drugs. Americans spend $2.6 billion each year on 600 million units of such products, although they are believed to be effective for only about 25 percent of those with moderate to severe migraine.
Click the following links to view supporting information on the effectiveness of GelStat Migraine:
The Company also has a suite of additional, effective healthcare products that address large consumer markets. GelStat(TM) Arthritis is the second available product to utilize GelStat's patent-pending formulation and is provided as a daily use, sublingual dissolving tablet. The Center for Disease Control estimates that, in its many forms, arthritis affects up to 70 million Americans. The Company has also developed "GelStat(TM) Sinus" and "GelStat(TM) Sleep," and believes that each of these products performs well and is effective for its intended use. The National Institute of Allergy and Infectious Disease estimates that 37 million Americans are affected by sinusitis every year, with at least 20 million more suffering from allergies. Approximately 70 million Americans are reported to be "problem sleepers."
For more information, visit www.gelstat.com
Safe Harbor Statement Under the Private Securities Litigation Act of 1995
With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of GelStat could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors, please review our SEC filings.
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