MIAMI, Aug. 16, 2007 (PRIME NEWSWIRE) -- Galea Life Sciences, Inc. (Pink Sheets:GLSN) today announced that it submitted documentation to NASD so that a record date can be set for date for the completion of the acquisition of Innovative Technology Acquisition Corp. The Company expects that the NASD will set a record date for the acquisition within two weeks.
As part of this transaction, one Innovative Technology Acquisition Corp. share will be exchanged for two Galea Life Sciences, Inc. shares.
About Innovative Technology Acquisition Corp.
Innovative Technology Acquisition Corp. is a developer of functional foods and dietary supplements. BioSource Therapeutics, Inc. (BST), an Innovative subsidiary, is an entrepreneurial life sciences company. BST specializes in the formulation, manufacturing, marketing and distribution of innovative dietary supplements that benefit people undergoing medical treatments and therapies. www.nutraplete.com
About Galea Life Sciences, Inc.
Galea Life Sciences, Inc. (Pink Sheets:GLSN) is currently a non-reporting, over-the-counter publicly traded company. GLSN identifies and acquires new and innovative nutraceutical product and dietary supplement companies with outstanding growth potential in the emerging scientific field of advanced nutritional supplements designed to support traditional medical treatments and therapies.
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, the ability to negotiate outstanding prior debts of acquired companies; properly identify acquisition partners; adequately perform due diligence; manage and integrate acquired businesses; react to quarterly fluctuations in results; raise working capital and secure other financing; respond to competition and rapidly changing technology; deal with market and stock price fluctuations; and other risks.