HIGH SPRINGS, FL--(Marketwire - March 29, 2010) - CTD Holdings, Inc. (OTCBB: CTDH) (FRANKFURT: CDJ) today announced that it has agreed to dividend shares that it owns of ViStra Growth Partners to shareholders of stock in CTD Holdings, Inc.
On December 31, 2009, CTD Holdings ("CTD", or the "Company") agreed to transfer 81% of its holdings in ViStra Growth Partners, Inc. ("ViStra") to Louis S. Weltman, the Chief Executive Officer of ViStra, in exchange for the fees owed VGP for the legal, accounting and negotiating, services provided in the 2009 negotiations that resulted in the creation of NSP; and for the resolution of the terms of Mr. Weltman's 2010 contractual employment agreement going forward.
"Considering the single-mindedness of management's focus on Trappsol® and Aquaplex® products, we know we've got to eliminate all distractions if we're going to meet the goal of a September 2010 ribbon-cutting for an operating facility producing c-GMP API/CD complexes for parenteral use. Using our proprietary Pulse Combustion Drying technology, it's an achievable goal, but we've got to streamline," stated Rick Strattan, CEO/Chairman of the company.
CTD and ViStra are working together to roll out the dividend; the dates and shareholder eligibilities will be announced as SEC and FINRA approvals are secured.
Mr. Weltman, a director of CTDH and the chief executive of ViStra added, "This is a good way to give CTDH shareholders the gift that continues to give; they can benefit from two separate and distinct businesses continuing to do well."
About CTD Holdings, Inc.
CTD Holdings, Inc. is a one-stop shop, business-to-business facilitator of commercial and research applications of Cyclodextrins. With its branded Trappsol®, Aquaplex® and Cyclo™ product offerings, CTDH scientists coordinate the development of commercial products for use in many diverse industries that endeavor to put non water-soluble ingredients into water-based formulations for direct use or conversion into stable, easy to use powders.
This news release contains "forward-looking statements" that 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 circumstances, events or results to differ materially from those projected in the forward-looking statements. CTDH is timely in the filing of its SEC mandated financial reports; these filings also contain forward-looking statements. The above forward-looking statements are made as of the date above; CTD Holdings, Inc. accepts no specific responsibility for updating such statements.