Easton Signs LOI with Licensed Producer of Cannabis to Expand its Operations and Participate in its Cannabis Edibles Division
TORONTO, ON / ACCESSWIRE / March 27, 2019 / Easton Pharmaceuticals Inc. (OTC PINK: EAPH) announces that it has signed a Letter of Intent with a Licensed Producer of Medical Marijuana in Canada, whereby Easton will participate in the LP’s expansion plans.
In its ongoing efforts to diversify and enter into other lucrative sectors, Easton is pleased to announce that it has signed a Letter of Intent with a Canadian Licensed Producer of Cannabis, already in revenues from its cultivation and sales activities. Easton has been in discussions with this LP since January and has finally concluded an LOI whereby Easton, through its Development Division, will undertake the build-out of the LP’s new Oil Extraction facility in exchange for an ownership interest in the LP. In addition, the LOI contemplates the LP supplying Cannabis in flower and oil form to Easton at a discount off market rates, giving Easton a further competitive advantage. The LP will receive an interest in Easton’s Cannabis Edibles company, ensuring the consistent supply of high quality cannabis.
Easton previously announced that the Company has signed an agreement to acquire a Toronto based commercial bakery and food preparation company which manufactures white labelled food products for third party food companies and its own line of niche food product lines, sold in major grocery chains, as well as specialty coffee chains. The company has an R&D division with product development and has begun discussions with food chains in order to develop and supply cannabis edible products. Easton expects the sales of its edibles division to exceed $100 million.
Easton and the LP will now proceed to work on the terms of a Definitive Agreement and complete the transaction as quickly as possible. More information will be released once approved.
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, together with BMV Medica S.A. 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, which they have sub-licensed to Bayer and Gedeon Richter. 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. As part of its strategic growth plan, the Company has entered new lucrative market segments globally, including Gaming, Real Estate Development, Food and Beverage and Cannabis.
For More Information on Easton and Affiliated and Partner Company’s Visit:
http://www.eastonpharmaceuticalsinc.com
http://finance.yahoo.com/q?s=eaph
https://twitter.com/eastonpharma
Safe Harbor
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.
CONTACT INFORMATION
Easton Pharmaceuticals, Inc.
Tel: +1(647) 362-5700
Email: eastonpharma@protonmail.com
www.eastonpharmaceuticalsinc.com
SOURCE: Easton Pharmaceuticals Inc.
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