PALM CITY, Fla. — GelStat on Tuesday announced it has closed the acquisition of Mastix Medica. GelStat acquired 100% of the membership equity in Mastix Medica in exchange for 27,500,000 restricted shares in GelStat's common stock. In conjunction with the closing of this acquisition, GelStat launches a new corporate website which can be viewed at Gelstat.com.
Mastix Medica specializes in the manufacturing of functional gum and tableted products in a variety of dosage forms for a diverse customer base, and for domestic and international markets, GelStat noted. These products include cannabidiol-infused tableted chewing gums, chewable tablets, lozenges, mints and confections. Product capabilities include the manufacture of dietary supplements, functional chewing gum infused with cannabidiols from industrial hemp, functional foods and medicated confectionaries and candy.
"The acquisition of Mastix Medica adds another dimension to GelStat that complements our present experience in product innovation and marketing," stated Larry Gershman, GelStat CEO. "The vertical integration also enhances our gross margins on our 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 growth high-CBD/low-THC medical marijuana and hemp infused products market. Mastix Medica has recently filed for a provisional patent that allows for the infusion of hemp oil based substrates into gum powder that is yielding higher concentrations of the active ingredients as the gum is never boiled but produced at room temperature."