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TORONTO, ON, March 14, 2018 (GLOBE NEWSWIRE) -- Easton Pharmaceuticals Inc. (OTC: EAPH) announces it has commenced negotiations with an AMPR applicant towards a Canadian Marijuana cultivators / growers license. Provides iBliss update:
Building on its medical marijuana business portfolio and following the agreement with Alliance Group (1124123 Ontario Limited), Easton Pharmaceuticals has initiated discussions with a new third party who has filed an application with Health Canada to receive an AMPR cultivators / growers license for the country of Canada. This opportunity brought forward by a board director, presents a company expecting to receive a compliance number from Health Canada in the near term. At that point Easton expects to sign a letter of intent or term sheet involving a transaction for Easton to possibly participate in the venture. This opportunity coincides with Alliance’s own medical / recreational marijuana initiative. So not to adversely affect Alliance’s marijuana venture, all details are being kept strictly confidential, but Alliance believes its initiatives are progressing well. Alliance will very soon be providing a detailed operations update on its aggregate business that Easton will be sharing with its shareholders.
In other news, as previously disclosed, Easton and its partner BMV Medica SA de CV who have previously entered into an agreement with BAYER of Switzerland and the legal entity of their subsidiary company, BAYER Consumer Care for a sub distribution agreement for Easton / BMV’s licensed product known as VS-Sense for Mexico, is expected to soon provide an update that can be publicly shared. Easton / BMV entered into a sub-distribution Agreement which provided Easton an up-front cash payment with a second payment due at Product Launch. The agreement also included a royalty payment to Easton / BMV on each unit sold.
Finally, Easton’s board has very recently had in depth meetings and discussions with iBliss Inc. and its principles towards modifying and closing on its agreement. The final closing with iBliss was delayed due to Easton having made the decision to first advance its available cash towards the Alliance closing. iBliss is a revenue generating e-liquid manufacturer and vaporizer company with international sales. Updates to be disclosed as they become available.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. The Company previously developed and owned an FDA-approved wound-healing medical drug and currently owns topically delivered drugs to treat cancer and other therapeutic products to treat various conditions that are all in various stages of development and approval. Easton has partnered with BMV Medica S.A. and together own the exclusive distribution rights in Mexico and Latin America for two patented women's diagnostic products and a novel natural treatment for Bacterial Vaginosis. In addition a generic cancer drugs line is being developed for sale in Mexico. The company's gel formulation is thought to be an innovative and unique transdermal delivery system that can in the future be adaptable in the delivery of other drugs and Cannabidiol extracts. Easton has closed on an agreement with Ontario based Alliance Group to acquire a 50% property ownership interest and a 20% to 70% ownership interest in 2 businesses, which includes aggragate and the cultivation and distribution of medical / recreational marijuana.
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This news release may contain forward-looking statements or expressions within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when certain words or phrases such as "hope", "positive", "anticipate," "pleased," "plan," "confident that," "believe," "expect," "possible" or "intent to" and similar conditional expressions are expressed, they 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. Any investment made into Easton Pharmaceuticals may contain risks. 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.
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