SOURCE: Galileo Life Sciences, Inc.

Galileo Life Sciences, Inc.

May 11, 2016 16:00 ET

Galileo Life Sciences, Inc. Merges With Novo Healthnet Ltd.

TORONTO, ON--(Marketwired - May 11, 2016) - Galileo Life Sciences, Inc. ("the Company") (OTC PINK: MDRM) today announced that its Canadian subsidiary has signed a merger agreement with Novo Healthnet Ltd. Novo is Canada's third largest provider of Whole Health Services including physiotherapy, massage therapy, and chiropractic. The company's primary line of health care interest is in providing rehabilitation medicine. Novo and its affiliates have a chain of 114 clinics that are staffed and administered by licensed health care professionals.

Novo Healthnet Ltd. also has a binding business partnership with a licensed producer and distributor of medical cannabis and its derivatives coupled with marketing and distribution rights to an on-line virtual physician access system. This merger will give the 100,000 patients who visit the health clinics located across Canada, on-site access to the licensed producers. This and Novo's cultivation partner will provide an integrated system that will allow patients seeking help to improve their functioning to be diagnosed and treated by a Canadian physician.

Dr. Duncan Scott, Director of Galileo Life Sciences, said, "Novo's Whole Health pain management approach involving their innovative physician access system, together with appropriate prescription of traditional or available cannabinoid medication, positions the company to quickly emerge not only as a national leader but possibly a global leader.
Dr. Scott is a Psychiatrist and Associate Professor at Queens University

Amanda Dalcourt, PT, Dip MDT, CEO of Novo Healthnet, expressed her enthusiasm for the synergies presented by the merger and the opportunities it opens up to harmonize the provision of solutions to people suffering from chronic pain and other ailments that can be treated with cannabis and marijuana products.

Mrs. Dalcourt has over 20 years' clinical experience as a Physiotherapist.

About Galileo Life Sciences, Inc.

Galileo Life Sciences, Inc. is a company strategically focused on the production and distribution of premium medical cannabis in North America and advanced health and life science and services that nurture innovative solutions to enhance the quality of life for all. It is the mission of GLS to invest in Knowledge, Products and Services in the Health and Wellness space with a focus on Rehabilitation and Pain Management. We will create significant value for our investors by consolidating unique cannabinoid based products and services companies with integrated access and delivery systems. By merging a national chain of health care clinics with a branded medical cannabis producer, coupled with an innovative real-time doctor supervised assessment and prescription system, we have positioned Galileo to vault to a leading role in the growth and acceptance of medical cannabis solutions. The Company also has a commitment to leading edge research and development in support of these rapidly growing alternative health and life sciences trends, technologies and services.

Galileo Life Sciences is listed on the New York OTC Pink Market and currently trades under the ticker symbol MDRM.

Safe Harbor

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "pleased," "believe," "expects," "reflects," "aligned," "anticipates," "planned" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. There are no guarantees or assurances that any initiatives will result in what the Company had originally intended. Any investment made into Galileo Life Sciences, Inc., would be classified as speculative and risky. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the Company's financial reports and filings.

Contact Information

  • For more information please contact:
    Declan French
    Galileo Life Sciences, Inc.
    350 1st Canadian Place, Board of Trade Tower
    Toronto On M5X1C1
    Tel: 416-416 642-2593