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5/1/2003 4:33:26 PM ET News Release Index
Global Path Signs Definitive Agreement To Acquire Nine Patented German Bioscience Products
TORONTO, and MUNICH, Germany, May 1 /PRNewswire-FirstCall/ -- Global Path Inc. (OTC Bulletin Board: GBPI
- News) is pleased to announce the signing of a Definitive Agreement to acquire nine significant patented
bioscience products from General Cosmetics Corporation ("GCC"), based in Munich. The acquisition is
anticipated to close later this week subject to certain conditions being met.
The nine significant bioscience discoveries include three market ready products in the pain management and
arthritis market with an additional six products ready for market once branding work has been completed. All
products have been patented and are cleared under Food and Drug Administration ("FDA") regulations for
immediate roll out in the United States.
"The all stock transaction of 6,750,000 restricted shares with a two-year hold represents enormous value for our
shareholders given the 2001 valuation of the product suite by Cap Gemini Ernst & Young. The Cap Gemini
valuation assessment of US$273 million to US$432 million on a proforma bases translates to a per share value
range of approximately US$13 to $22," states Robert Kubbernus, Chairman of Global Path. "The general pain
relief market alone has a multi-billion-dollar market size and this does not include the many additional product
variations available to us for years to come," concludes Kubbernus.
The development team at GCC invested 10 years and US$10 million developing the products and building a
loyal following throughout Europe within the sports and medical communities. The company has secured strong
product testimonials and endorsements from high-profile members of the European sports community, a major
German hospital, and other significant parts of the medical community in Europe. These successes will be used
to leverage the launch of the products in North America and other parts of the world.
About Global Path Inc.
Global Path Inc. (OTC Bulletin Board: GBPI - News) is a strategic holding company focused on acquiring,
expanding and developing companies in sectors which can create the highest and best opportunities for
investors. Global Path provides strategic, financial and business resources to position its portfolio companies as
industry leaders. To find out more about Global Path Inc., visit our website at www.globalpathinc.com .
Forward-looking statements in this news release are made pursuant to the "Safe Harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking
statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close
transactions being contemplated, risks related to international sales and potential foreign currency exchange
fluctuations, continued acceptance of Global Path's services, increased levels of competition, technological
changes, dependence on intellectual property rights and other risks detailed from time to time in Global Path's
periodic reports filed with the United States Securities and Exchange Commission and other regulatory
authorities.
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