Licensing Deal to Add Six Prescription Products with over 20 Billion dollars in Potential market size to GDAR Pipeline
San Diego, CA -- (ReleaseWire) -- 05/04/2016 --Golden Age Resources Inc. (OTCPINK:GDAR), a leading acquisition and development company, announced today that it entered the highly profitable pharmaceutical business with the signing of a term sheet with Biopharma Pravo alpha for the perpetual exclusive worldwide rights for six products for a potential of 20 billion dollar markets. Under the terms of the signed term sheet, GDAR will have an exclusive perpetual pre-paid worldwide rights for the following products focusing on cardiovascular, anti-microbial, immunity and pain relief.
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The Company expects to close the licensing deal in the upcoming weeks and will continue to update its shareholders on the progress. In connection with the change in direction, the Company announced the appointment of Mr. Daniel Kogan as the new President & Chief Executive Officer effective immediately. Mr. Kogan replaces Mr. Byrne who decided to pursue other opportunities. The Company would like to thank Mr. Byrne for his contributions and wish him good luck with his new endeavors.
"I am delighted to join GDAR as its President & CEO to build the new management team and execute on the Board's new direction to move the Company into the commercial stage and a positive cash flow situation in the near future" Said Mr. Kogan. "Once we complete the licensing agreement of the new products and start receiving approvals in the different territories, we expect to move to a cash flow positive situation very fast and turn the corner to profitability" continued Mr. Kogan.
Prior to GDAR, Mr. Kogan held management positions at Metlife and KOSH. He has extensive experience in finance, management and merger and acquisitions. Mr. Kogan holds an MBA from St. John's University / Peter J. Tobin College of Business.
About Golden Age Resources, Inc.
Headquartered in Pam Beach Gardens, GDAR plans to focus on the development of prescription and over the counter medicines in large therapeutics areas including, cardiovascular, antimicrobial, immunity, arthritis and pain among others.
For more information visit www.gdarinc.com
About Biopharma Pravo Alpha (BPA)
Biopharma Bravo Alpha (BBA) is a 15 year old Russian based fully integrated pharma leader in innovative and generic pharmaceuticals. The Company's vertical integration gives it the needed stability in a dynamic supply and business environment. The company has 15 drugs currently commercialized in Russia with Tubosan® to increase immunity as the lead product. In addition, the Company has an impressive pipeline of products at various stages of approval.
For more information visit www.alphabiopharma.com
Forward Looking Statements
This press release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. There are no assurances that the Company will be able to sign and close the licensing agreement for the Products and even if the license agreement is signed, there is no assurance that the products will be approved in other territories. You should consider these factors in evaluating the statements herein and not rely on such statements. The forward-looking statements in this release are made as of the date hereof and Golden Age Resources, Inc. undertakes no obligation to update such statements.
Daniel Kogan, President & CEO
Source: Uptick Newswire