Value Holdings To Change Name To Galea Life Science; Complete Reverse Split Effective July 24th, 2007
July 24, 2007 (PRLEAP.COM) Health NewsValue Holdings Inc. (Other OTC:VALH) today announced that it has been notified by NASD that its 25:1 reverse stock split will be effective at the open of business Tuesday, July 24th, 2007. The Company has also changed its name to Galea Life Sciences to better reflect the direction of the company. Along with the reverse and name change, the Company’s shares will begin trading under the symbol GLSN on Tuesday, July 24 as well.
As part of the previously announced acquisition of the shares of Innovative Technology Acquisition Corp. Value Holdings agreed to execute a reverse split of 25:1 and will issue 2 new Value Holdings shares for each outstanding Innovative Technology Acquisition share. Innovative Technology Acquisition Corp.. is the producer of Nutraplete, a dietary supplement for people with HIV/AIDS who require nutritional supplementation to maintain lean body mass. Nutraplete is a product of BioSource Therapeutics, Innovative’s wholly-owned subsidiary. It is expected that the acquisition will be completed shortly after the effective date of the reverse and name change
About Innovative Technology Acquisition Corp. and Value Holdings, Inc.
Innovative Technology Acquisition Corp. is the developer of functional foods and dietary supplements. GLSN acquired BioSource Therapeutics, Inc. an entrepreneurial life science company, in 2002. BST specializes in the formulation, manufacturing, marketing and distribution of innovative dietary supplements that benefit people undergoing medical treatments and therapies. www.nutraplete.com
Value Holdings, Inc. (Other OTC:VALH) is currently a non reporting, over the counter (“OTC'') publicly traded company. The Company's corporate goal is to build well-run independent subsidiaries that have solid market niches with compounded growth rates in terms of revenues and earnings.
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.