TORONTO, ON–(Aug 23, 2017) – Easton Pharmaceuticals, Inc. (OTC PINK: EAPH), is pleased to announce, pursuant to its previously announced Closing with Canadian based, joint venture partner, 1124123 Ontario Limited (dba / operating as – Alliance Group) — executes $6,000,000 CDN aggregate contract on its 90 acres of industrial zoned land.
The contract Alliance Group has executed is for its Aggregate business on its 90 acres of industrial zoned land, which includes recycling, manufacturing of various industrial products and waste management services. The contract was executed with several local construction companies who appreciated the location and its close proximity to a major metropolitan city such as Toronto, currently undergoing an extended unparalleled construction boom. Easton / Alliance believe this contract represents the first of possibly many other similar type contracts from other construction companies, currently being negotiated. At Easton’s option, the Company is entitled to 50% of the net revenues from this contract and any other additional aggregate contracts executed until such time Alliance is provided with the rights to cultivate, produce and facilitate the sale of medical / recreational marijuana for the country of Canada. Recreational marijuana consumption will be legal in Canada starting in the spring of 2018.
Easton Pharmaceuticals has thus far paid $575,000 CDN and is in the process of forwarding another $400,000cdn payment out of a committed total of $1.3 million CDN to Toronto based 1124123 Ontario Limited (dba / operating as – Alliance Group) to acquire an interest in 45 acres of agriculturally zoned land out of the 135 acre parcel owned by the company north of Toronto, Ontario, Canada to cultivate, produce and facilitate the sale of its production of medical / recreational marijuana and other revenue producing businesses on a co-managed basis. Alliance has previously initiated the process to legally grow medical / recreational marijuana and believes it is in the late stages of being cleared sometime within the next 30 to 60 days barring any unforeseen last minute obstacles. Until such time that approvals and revenues can be generated with cultivating and distributing medical / recreational marijuana, the agreement calls for Easton to receive 50% of all net revenues on Alliance’s Aggregate businesses, which following the closing of the aforementioned agreement, will commence very shortly generating revenues. Additional contract updates and announcements are pending completion.
Vince Demasi, speaking on behalf of Alliance Group stated, “Alliance is pleased to have entered into our first contract for our aggregate business, which demonstrates to Easton and its shareholders that Alliance can deliver on what was represented. This partnership will yield positive results for everyone.” Mr. Demasi further stated, “This contract is the precursor of what is believed to be many more similar type agreements to follow.”
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 and together own the exclusive distribution rights in Mexico and Latin America for patented women’s diagnostic / treatment products and two generic cancer drugs. 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 to acquire 100% of iBliss Inc., a leading e-liquid vapour producer and distributor with international sales.
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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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