Easton Pharmaceuticals Announces Upgrade to Its Proposal With Vodis Innovative Pharmaceuticals, Signs Additional LOI & Partne...
March 03 2014 - 7:00AM
Marketwired
Easton Pharmaceuticals Announces Upgrade to Its Proposal With Vodis
Innovative Pharmaceuticals, Signs Additional LOI and Partnership
Agreement Towards Medical Marijuana Acquisition(s), Places Funds in
Escrow Towards a Final Agreement and Closing
TORONTO, ON--(Marketwired - Mar 3, 2014) - Easton
Pharmaceuticals Inc. (OTC: EAPH) a specialty pharmaceutical company
that owns, designs, develops, and markets an array of
topically-delivered drugs and therapeutic / cosmetic healthcare
products, today announces it has revised its offer to Vodis
Innovative Pharmaceuticals in the companies quest to close on an
acceptable agreement towards its medical marijuana initiatives.
Additionally, Easton has signed a Letter of Intent with a private
Ontario Canada based company presently producing organic medical
marijuana, as well as executing an additional letter of intent
towards a partnership agreement for the purchase of various
marijuana producing companies who have all filed applications with
health Canada for medical marijuana distribution and growing
licenses under the MMPR (Medical Marijuana For Medical Purposes
Regulations) which includes a revenue producing
acquisition.
In order to keep its shareholders abreast on initiatives, Easton
has decided to announce it has been in negotiations with Vodis
Innovative pharmaceuticals, a private British Columbia based
company who have received pre license approval on medical marijuana
from health Canada under MMPR regulations. Vodis is considered to
be one of only 8 companies thus far who have received approval, but
who now are mandated to meet and pass certification on facilities
as per their application prior to receiving a license. Vodis is
considered an established producer of marijuana and have received
awards for their quality of cannabis and are considered to possess
high technology growing equipment including LED lighting. Vodis
continues to be in negotiations with Easton pharmaceuticals to work
towards what is hoped to be a final agreement. Easton
Pharmaceuticals previously forwarded an initial proposal which was
revised on Feb. 28 to where Easton Pharmaceuticals has more than
doubled its proposal to where it has now agreed to advance an up
front cash payment of $500,000 to Vodis plus a commitment for
additional funds through cash and / or the Issuance of common stock
in Easton pharmaceuticals.
Although the company believes it can come to terms and sign a
final definitive agreement with Vodis, concurrent with its
continuing negotiations, Easton Pharmaceuticals in its pursuit and
intent to enter into the medical marijuana industry are preparing
for alternate contingencies in the case that Vodis and Easton are
unable to mutually agree. As a result, Easton announces it has
signed an agreement with a consortium for the acquisition of up to
five companies who have all applied for medical marijuana licenses
with health Canada. One of the five companies and the main
focus, is a company that has been generating revenues growing
marijuana over the last few years. Additionally, Easton
Pharmaceuticals has signed a Letter Of Intent with a private
Ontario Canada based company who are currently growing organic
marijuana plants, have submitted their own application to Health
Canada for medical marijuana and are awaiting word on an imminent
decision. As a condition to closing for all negotiations, Easton
Pharmaceuticals has agreed to put up to $500,000 cash in
escrow. Until such time as discussions with Vodis have ceased,
the Company is not able to disclose any further details.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company
that owns, designs, develops, and markets topically-delivered drugs
and therapeutic / cosmetic healthcare products, focused on cancer
and other health issues related towards male and female sexual
dysfunction, wound healing, pain, motion sickness, scar and stretch
marks, cellulite, varicose veins and other conditions. The
company's gel formulation is thought to be an innovative and unique
transdermal delivery system. Easton Pharmaceuticals product
"VIORRA", is an over-the-counter aid for the treatment to
restore and improve vaginal moisture and elasticity which is
believed to have a positive effect on women's sexual desire and
arousal, FSAD (Female Sexual Arousal Disorder) the world market for
these female conditions are conservatively estimated to be in the
billions. VIORRA is a topical, daily-use product
classified by the FDA as containing Generally Recognized as Safe
ingredients.
For More Information Visit:
http://www.ashleybiomedical.com & http://www.eastonpharma.com
Safe Harbor
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 "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. 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: Carla Pepe Easton Pharmaceuticals Inc. Tel: +1(416)
619-0291 Tel: +1(347) 284-0192 email: info@ashleybiomedical.com
email: info@lamindustries.com
Easton Pharmaceuticals (CE) (USOTC:EAPH)
Historical Stock Chart
From Aug 2024 to Sep 2024
Easton Pharmaceuticals (CE) (USOTC:EAPH)
Historical Stock Chart
From Sep 2023 to Sep 2024