Exhibit 99.1
COMPANY PRESS RELEASE
GUM TECH INTERNATIONAL, INC. COMPLETES
ASSET SALE TO WRIGLEY COMPANY
Phoenix, AZ December 5, 2001/PRNewswire/ - Gum Tech International, Inc. (Nasdaq:
GUMM) announced that it has completed the previously announced purchase of the
forty percent interest in Gel Tech, LLC, owned by Zensano, Inc. Completion of
the purchase makes Gel Tech a wholly-owned subsidiary of Gum Tech. Gel Tech
produces and sells Zicam Cold Remedy and Zicam Allergy Relief.
"We are pleased that the acquisition is final and we can move forward with our
previously announced plans for the Zicam brand of products, which include
increased domestic distribution, international marketing and product extension
opportunities" said Mr. Carl J. Johnson, President and Chief Executive Officer
of Gum Tech. "We are dedicated to the success of Gel Tech and intend to use our
resources to make it a profitable, expanding company."
"With the cold season underway, we have begun our national advertising campaign
to increase sales and consumer awareness of Zicam Cold Remedy. In addition to
advertising in nationally recognized magazines and radio programs, we are airing
new television commercials," continued Mr. Johnson. "We are pleased with our
results to date."
Gum Tech International, Inc. is an innovative nutrient and drug delivery
technology company engaged in the development, manufacture and marketing of
delivery systems for bioactive compounds. Gel Tech, LLC, its wholly-owned
subsidiary, produces, markets and sells Zicam(TM) Cold Remedy, a patented,
revolutionary homeopathic remedy that significantly reduces the duration and
severity of the common cold, and Zicam(TM) Allergy Relief, a homeopathic remedy
designed to provide relief to allergy sufferers. In a study published in the
October 2000 issue of the ENT - Ear, Nose & Throat Journal, Zicam(TM) Cold
Remedy was shown to reduce the duration of the common cold by an average of 75%
when taken at the onset of symptoms.
For additional information, please contact Lynn Romero, Manager of Investor
Relations, 602-387-5353, lromero@gum-tech.com. Gum Tech is located at 2375 East
Camelback Road, Suite 500, Phoenix, AZ 85016.
Gum Tech Forward-Looking Statement Disclaimer:
This news release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including statements regarding
the Company's intentions to increase domestic distribution of Zicam, distribute
Zicam internationally, take advantage of product line extension opportunities,
and make Gel Tech a profitable, expanding company. These forward-looking
statements are based on the Company's expectations and are subject to a number
of risks and uncertainties, many of which cannot be predicted or quantified and
are beyond the Company's control. Future events and actual results could differ
materially from those set forth in, contemplated by, or underlying the
forward-looking statements. These risks and uncertainties include the
possibility that the Company may be unsuccessful in attracting additional market
acceptance and increasing sales of Zicam domestically or internationally, and
the risk that the Company may be unsuccessful in pursuing and developing
opportunities to extend its product line beyond Zicam Cold Remedy and Zicam
Allergy Relief. The Company could encounter significant competition from other
brands marketed by companies with significantly greater financial resources and
superior distribution capabilities, may fail to achieve desired results from its
marketing efforts, may encounter difficulties in maintaining sufficient cash
resources to effectively market Zicam and pursue product line extensions, and
could face considerable difficulties in extending its product line to as yet
untested products. Other factors that could cause actual results to differ
materially from the Company's expectations are described in the Company's
reports filed pursuant to the Securities Exchange Act of 1934.
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