Easton Pharmaceuticals Announces 2 Medical Marijuana Investment Proposals Which Include the Launch of Medical Marijuana Dispe...
June 06 2014 - 11:41AM
Marketwired
Easton Pharmaceuticals Announces 2 Medical Marijuana Investment
Proposals Which Include the Launch of Medical Marijuana
Dispensary(s) in the State of Michigan and an Investment Into
Medical Marijuana Technologies to Assist Growers With Harvests
TORONTO, ON--(Marketwired - Jun 6, 2014) - Easton
Pharmaceuticals Inc. -- (OTC: EAPH) -- announces it has received
and is in late stage discussions with two investment proposals in
the medical marijuana industry.
Easton Pharmaceuticals will be decided upon within the next week
to 10 days which involves two proposals and investment
opportunities in the medical marijuana industry. The first proposal
stems from a signed LOI and discussions initiated with UMED Health
and Wellness Centers located in the State of Michigan, current
owners of an operating medical marijuana dispensary since January
of this year. The discussions with UMED involve terms based around
Easton Pharmaceuticals opening one or possibly more medical
marijuana dispensary(s) in the State of Michigan with UMED being
the manager of the operating business and facility. A counter
proposal has been submitted to UMED where both companies would form
a 50/50 joint partnership for new dispensaries with Easton paying
the fees and expenses required to open the facilities and UMED
finding the locations, design, launch the facilities, locate the
product and patients for the dispensary. Discussions have also
involved a direct investment into UMED for expansion of their
existing business which after 6 months of operations with their own
dispensary, revenues according to UMED are projected to
conservatively reach $1 Million at the current pace with cumulative
increases projected over the next few years. The new dispensaries
in Michigan is thought of as an attractive opportunity to generate
quick low overhead revenues for Easton due to costs that are deemed
to be greatly reduced compared to the current costs required for
its federal medical marijuana growers business in Canada as
previously announced with MDRM Canada Group Inc. currently in its
final inspection phase prior to receiving a Federal growers license
for the entire country of Canada. The launch of dispensaries(s) in
the state of Michigan does not presently require elaborate vaults
or other expensive security systems as is required as per federal
guidelines in Canada although dispensary's in Michigan are not
legally allowed to grow their own product, but to only distribute
medical marijuana to patients. Through consultations with advisors
and other experts in the industry, with the ever improving
sentiment to medical marijuana and to recreational use marijuana as
is the case in the precedent setting, State of Colorado, eventually
cross border or cross state importing and exporting of various
strains of marijuana is believed to be approved. Easton
Pharmaceuticals believes now would be the opportune time to get
involved in the State of Michigan for Medical Marijuana before new
rules are expected to come into effect resulting in more strict
licensing requirements, security and other facets which would
greatly increase the costs which as of the moment are a fraction
compared to Canada's highly regulated, but extremely profitable
industry or of that in other states such as Colorado and
others.
In addition to the Michigan medical marijuana initiative, Easton
has been presented with an opportunity to invest in a private
company, soon to go public, to help fund a leading technology
designed to ensure that cultivation, bottling, edible, extract
manufacturers and dispensaries all maintain the highest food
quality safety standards for antimicrobial and bacteria free
facilities. In the wake of Colorado recently sending health
inspectors to numerous facilities where large harvests were ordered
destroyed and or recalled which was the same for large growers in
Canada, this technology could save industry companies hundreds of
thousands of dollars in lost revenue and brand damage. Colorado has
announced new health standards and bacteria testing procedures will
be coming into place by October. Other states will soon follow
which is why an opportunity does exist and where Easton may
conclude a deal next week.
A decision on both of the proposals and opportunities are
expected to be made in the next week to 10 days and neither
requires a large investment by Easton which would not impede or
limit the closing of its recently announced MDRM Canada Group
agreement where Easton has an exclusive option to purchase up to
49% in a private medical marijuana company who are in receipt of a
letter to build from health Canada and are in the final build out
stage of its facilities prior to a final inspection and before a
national MMPR growers license is granted.
In other news, Easton Pharmaceuticals is placing serious
consideration to moving forward with filing a form 10 or an S1 with
the Securities and Exchange Commission to become a reporting issuer
and to graduate up to the OTCBB or the OTCQB exchange. The
difference with being an SEC reporting company is that its
financial statements would be audited by a US GAAP auditor and
filed on the SEC's Edgar system. Currently, its financial
statements are validated by an attorney and filed on the OTC
Markets exchange (OTC: EAPH) which is considered close to the same
level of transparency with financial statements filed with the SEC,
being a reporting SEC filer would require 8K's and other filings to
be submitted on a more timely basis for material transactions.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company
involved in various pharmaceutical sectors including medical
marijuana, 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,
topical daily use product and 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 and the medical marijuana industry is conservatively
estimated to be in the billions.
For More Information Visit:
http://www.eastonpharmaceuticalsinc.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. There are no guarantees or assurances that any
proposals, initiatives or negotiations will result in what the
company had originally intended. Any investment made into Easton
Pharmaceuticals would be classified as speculative and risky. 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@eastonpharmaceuticalsinc.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