TORONTO, ON–(Apr 11, 2017) – Easton Pharmaceuticals, Inc. (OTC PINK: EAPH) announces it has finalized all terms of the Acquisition Agreement to acquire revenue producing vaporizer, e-liquids manufacturer iBliss Inc., of Toronto, Ontario, whereas legal counsel will be quickly concluding the closing of the transaction.
After various delays and much negotiation, Easton Pharmaceuticals is pleased to announce that both Easton and iBliss have agreed to and finalized all terms of the Acquisition Agreement whereas Easton will acquire 100% of iBliss Inc. and its holding company from its subscribers in exchange for common restricted shares in Easton Pharmaceuticals. The subscribers of iBliss will conditionally receive restricted shares of Easton stock in exchange for 100% of the shares of iBliss Inc. based on sales milestones. The shares have been placed in escrow until other documents are executed and delivered, considered a formality. iBliss at its peak two years ago, maintained healthy sales of $15,000,000 but are once again on the rise and projected to again reach $15,000,000 due to new international distribution agreements recently executed.
In addition to its e-liquids and vaporizer business, principles of iBliss will lend much know how and expertise of the medical marijuana industry which has led to a determination that Easton / iBliss fully intend on applying for a medical marijuana LP license for the country of Canada. iBliss and Easton believe its LP License application for Canada will get quickly approved by Health Canada due to successful businesses and sales and the availability of financial capital. Canada’s federal liberal government is expected to announce the full legalization of recreational marijuana use for all of Canada, sometime in the next few weeks.
Complete details of the closing terms and additional business development updates on iBliss’s vaporizer, e-liquids and medical marijuana businesses are expected to be disclosed very shortly followed by regular updates.
Hung Tran, President of iBliss commented, “iBliss and its principles are pleased to have reached a final Acquisition Agreement with Easton Pharmaceuticals. We are excited to partner up and work with Easton’s management to continue growing our Vaporizer business and our consumer health products, paving the way for enhanced value and growth for all Easton shareholders.” Mr. Tran further stated, “iBliss has had tremendous growth over the past 3 years of being in business, which includes sales throughout North America and recently adding several international markets in Europe, the Middle East and Russia which has it on track to once again reach $15,000,000 in sales with profits margins in excess of 40%. iBliss possesses in house manufacturing of its own line of e-liquids products in a certified and regulated laboratory.”
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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, along with two generic cancer drugs, Paclitaxel and Docetaxel from BioLyse Pharma of St. Catherine’s Ontario, Canada.
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