Easton Pharmaceuticals Finalizes and Forwards Its 2013 Audited Financials to an Existing Medical Marihuana Acquisition Target and a Health Canada Medical Marijuana for Medical Purposes (MMPR) Applicant
TORONTO, ON–(Marketwired – Dec 1, 2014) – Easton Pharmaceuticals Inc. (OTC: EAPH) announces it has arranged to have its completed 2013 audit to be handed over to two American and Canadian based Medical Marihuana Growers whom the company has had ongoing communications with. As previously stated, grower details are expected to be disclosed within the second week of December as per allowances made on due diligence documentation and agreements.
Easton has been considering entering the lucrative Medical Marijuana industry mainly through the acquisition route. Current acquisition candidates have insisted on an independent audit on its 2013 year end financial statements prior to considering and accepting restricted shares of Easton Pharmaceuticals common stock as part of its ongoing negotiations. Current auditor has been vetted by the candidates to ensure that standards would be acceptable to all parties.
In other developments involving Easton’s current Canadian medical marijuana facility / initiative, the applicants have undergone communications with Health Canada and are hoping to be one of the next few company’s processed by health Canada. There have been expectations that Health Canada would review, inspect and finalize applications by end of year and start approving applicants early into the new year (2015). Easton Pharmaceuticals has received a full financing commitment through an accredited private Canadian investor, contingent on receiving an MMPR license. In addition a second investor option from a New York based accredited investor have provided Easton with a commitment for up to $5,000,000 in financing who have previously financed the company in the amount of $1,000,000 .
Easton Pharmaceuticals is striving to become not just another player in the industry but a potent company that will deliver a great value proposition to its shareholders and partners.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company involved in various pharmaceutical sectors and others industries such as medical marijuana. The Company previously owned an FDA approved wound healing drug and currently owns topically-delivered drugs and therapeutic / cosmetic healthcare products focused on cancer and other health issues geared towards female sexual dysfunction, wound healing, pain, motion sickness and other conditions that are all in various stages of development. The company has ventured into the potentially lucrative medical marijuana industry through an investment into AMFIL Technologies and their groZONE anti-bacterial system and the exclusive option to purchase up to 50% in a medical marijuana grow-op business / facility which has received a letter to build from Health Canada. 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 Cannabidiol extracts.
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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 of discussion, the words “hope”, “anticipate,” “pleased,” “plan,” “confident that,” “believe,” “expect,” “possible” or “intent to” 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. Any investment made into Easton Pharmaceuticals would be classified as speculative. 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.
Easton Pharmaceuticals Inc.
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