TORONTO, Jan. 15, 2015 (GLOBE NEWSWIRE) -- Gemoscan Canada, Inc. (TSX-V:GES) (Munich:1GE) ("Gemoscan" or the "Company"), is pleased to announce that it has formed a strategic alliance with A.C. Simmonds and Sons (the "Alliance"). The Alliance will focus on corporate and business development initiatives focused around Gemoscan's previously stated goals of leveraging its patented intellectual property and proprietary processes to become one of the leading integrated platforms in the rapidly growing multi-billion dollar North American consumer-based healthcare market. The Alliance will help the Company to further expand its position in the health and wellness industry, with a particular focus on natural remedies and treatments.
Today, the Company's programs are offered by over 600 pharmacies and medical clinics, including clinics owned and operated by Gemoscan, across Canada, as an adjunct to conventional modalities. Among other considerations, the Alliance will seek to identify and sufficiently capitalize Gemoscan in order to acquire businesses and enter into strategic partnerships that may represent immediately accretive sales while functioning as organic channels for Gemoscan's patented medically supervised diet-related wellness programs in Canada and the United States. These businesses include consumer-oriented healthcare enterprises incubated by A.C. Simmonds and Sons, which among other initiatives embrace offerings through the Caribbean and the United States.
"We are very happy to be aligning our interests with those of A.C. Simmonds and Sons, an enterprise established in 1918. Working with its team, including its Chairman and CEO, John Simmonds, one of Canada's leading entrepreneurs, is a considerable boon for our business and shareholders. A.C. Simmonds and Sons' experience in both the capital markets and in acquiring and building profitable companies is an exciting step for Gemoscan as we work to be an integrated provider and developer of wellness businesses in the massive North American healthcare marketplace," said Brian Kalish, CEO of Gemoscan.
As part of the Alliance, A.C. Simmonds and Sons will name a representative to Gemoscan's Board of Directors as soon as it is practical.
"A.C. Simmonds and Sons is very excited about this opportunity to work with the GES team. This alliance will provide a platform for several initiatives that we have been pursuing related to our food business, along with wellness products that we have been developing over the last year. We believe there is great potential to build a strong and dynamic heath care business in the years to come," said John Simmonds, CEO of A.C. Simmonds and Sons.
About Gemoscan Canada, Inc.
Gemoscan is an industry leader in food intolerance management and maintains a first-to-market position with Canada-wide distribution through select retail partners. Founded in 2003, using its proprietary patented technology, Gemoscan develops, owns and markets comprehensive naturopathic dietary management solutions for consumers, including the HemocodeTM System and the MenuWise™ Plan, personalized medically supervised programs that promote dietary well-being. Gemoscan is the first and only provider to commercialize a food sensitivity management solution directly to consumers in partnership with retailers, and today offers the most comprehensive services available. Gemoscan also owns and operates multidisciplinary paramedical clinics, located in Toronto, Ontario.
Gemoscan Canada, Inc. trades its shares on the Toronto Venture Exchange under the symbol GES and is quoted on the Munich, Frankfurt and Stuttgart Stock Exchanges under the symbol 1GE.
About A.C. Simmonds and Sons
A.C. Simmonds and Sons, with lineage through its management team to 96 years of business experience, is a Canadian-based company with interests across North America and a growing international presence. The Company is focused on acquiring profitable businesses for expansion and development in seven growth sectors: international food, oil and gas, mold remediation, waste management, renewable energy, leisure and the entertainment industry. John G. Simmonds, the Company's Chairman and CEO, co-founded the largest Canadian golf course operation and has successfully established and grown companies and built effective teams. Mr. Simmonds has served as chairman and member of the board of directors of several public companies.
For more information about A.C. Simmonds and Sons, please visit www.acsimmondsandsons.com
This news release contains certain "forward-looking information." All statements, other than statements of historical fact, address activities, events or developments that Gemoscan believes, expects or anticipates will or may occur in the future. These forward-looking statements reflect the current expectations or beliefs of Gemoscan based on information currently available to Gemoscan. Forward-looking statements are subject to a number of significant risks and uncertainties and other factors that may cause the actual results of Gemoscan to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Gemoscan. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Gemoscan disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Gemoscan believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.