GelStat Forms New and Advanced Engineering Division
GSAC Engineering Marks the First Phase of a Turnaround Plan to Drive its Corporate Growth Strategy
STUART, Fla., March 07, 2023 (GLOBE NEWSWIRE) — GelStat Corporation (“GelStat” or the “Company”) (OTCPink: GSAC), a development stage company currently focused on consumer healthcare products for over the counter and other non-prescription use, launched a new engineering division called GSAC Engineering (“GSACe”), marking a milestone in the Company’s long-term turnaround plan to drive its corporate growth strategy.
The Company’s senior management team has been evaluating various market opportunities that could support a tangible growth path. In parallel to market research, GelStat has been developing technology and intellectual property to support this strategy. GSACe plans to initially focus on developing innovative technology for the industrial security and renewable energy markets. In particular, the new division is pursuing two broad initiatives which include identifying technology that it plans to develop or acquire in support of new projects related to an industrial security system and the chemical recycling of plastic into fuel.
Additionally, as part of its entry into the industrial security market, GelStat plans to secure intellectual property that complements its engineering capabilities in an attempt to gain a competitive advantage. The Company also expects to secure contracts with several medium-tier security facilities in the southeastern U.S. and is looking to gain market share of these types of facilities in the near future.
“The launch of the new division is a major step in our long-awaited turnaround plan,” said Company CEO Javier Acosta. “The new segment’s growth strategy is to penetrate the industrial security and renewable energy markets. I am confident that this division will provide a strong foundation for us to continue growing GelStat Corporation and I look forward to sharing updates with our shareholders as they become available.”
About GelStat Corporation
GelStat Corporation (OTCPink: GSAC), based in Stuart, Florida, is a development stage company that specializes in natural consumer health care products for over-the-counter (OTC) and non-prescription use, including its Migraine and Sleep formulations. The Company has recently launched a new advanced engineering division that develops innovative technologies for the industrial security markets and renewable energy. For more information, visit www.gelstat.com.
Forward Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects — both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified using forward-looking words such as “believe,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” and “potential,” among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we plan to file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to GelStat Corporation or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
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