TORONTO, ON–(Marketwired – Nov 28, 2017) – Easton Pharmaceuticals, Inc. (OTC: EAPH), is pleased to announce it is days away from its first equipment delivery to commence operations on its aggregate business with partner 1124123 Ontario Limited (o/a – Alliance Group) following its final payment which completed its $1.3 Million CDN JV agreement towards a 50% property ownership interest and various businesses including a lucrative aggregate business and the cultivation of medical / recreational marijuana for national Canadian market. Acquires construction quotes towards the building of a facility towards medical / recreational marijuana for Canadian market.
After completing all terms of an agreement and advancing its final payment on a total of $1.3 Million CDN to 1124123 Ontario Limited (o/a – Alliance Group) which provides Easton with an ownership interest in a 135 acre property and a 20% to 70% ownership interest in various businesses operating on the land located in the township of Georgina in the Municipality of North York, Ontario, Easton has been notified that operations on the aggregate business of the property from its previously announced $6,000,000 CDN contract with a well known local construction company is days away from commencing operations and the receipt of its first payment. The property located at 6017 Smith Blvd., Georgina Township, has 90 acres zoned M3 industrial with the remaining 45 acres zoned as agricultural. Several millions of dollars in equipment have been ordered and are expected to be delivered to the property within days. Once delivered, operations will commence which should then allow for additional contracts currently under negotiations to close. Easton and its partner Alliance Group anticipate contracts to generate over $6,000,000 in revenues during its first year of operations and expected to grow to $20,000,000 in gross revenues in its second year. However, with negotiations underway for other contracts, these revenue projections could double. The Easton / Alliance property has received an independent valuation of over $8,000,000 CDN. Easton and partner Alliance are receiving quotes towards the construction of a facility for the cultivation and growing of recreational marijuana, expected to commence in the second to third quarter of 2018.
In other news, Easton / BMV have officially closed on a sub-distribution agreement for a third product launch with a second European based, very large, internationally recognized, multi-national pharmaceutical company, initially for the Mexico market. A press release is awaiting approval along with delivery of an upfront cash payment to Easton from its head office in Switzerland. A formal announcement is expected sometime next month. This product launch would join its other two previously launched woman's diagnostic / treatment products (Gynofit, AmnioSense) with multi-national Gedeon Richter and with Windsor Pharmaceuticals for Central America.
In other news, Easton previously executed a closing agreement with iBliss Inc. of Toronto to acquire 100% of its vaporizer business which was generating approximately $15,000,000 CDN in revenues 3 years ago. Due to the fact Easton made the decision to first close and allocate funds towards the acquisition and agreement with Alliance Group, Easton has not consolidated its financial statements with that of iBliss and their revenues until a required cash payment has been advanced. However, Easton is now putting its efforts on iBliss and this acquisition, which includes a restructuring of the agreement. Both companies are working towards a consolidation of iBliss's revenues which may coincide with the acquisition of another vaporizer company based out of England that currently generates approximately $6,000,000 Euros with healthy profit margins. Details to be shortly announced.
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 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 SA de C.V. and together, own the exclusive distribution rights in Mexico and Latin America for patented women's diagnostic and preventative care products from CommonSense of Israel and other companies, along with two generic cancer drugs, Paclitaxel and Docetaxel from BioLyse Pharma of St. Catherine's, Ontario, Canada. Easton has recently closed on an agreement with Alliance Group for property and various businesses including the cultivation of medical / recreational marijuana for the country of Canada on an acquisition to acquire 100% of iBliss Inc., a revenue generating e-vaporizing company with increased international presence.
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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 would be classified as speculative and 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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