TORONTO, ON--(Marketwired - May 24, 2017) - Easton Pharmaceuticals, Inc. (
Easton has entered into an LOI agreement with Toronto-based Alliance Group to acquire an interest in their 45 acres of agriculturally zoned land north of Toronto to cultivate, produce and facilitate the sale of its production of medical marijuana on a co-managed basis. This agreement would give Easton Pharmaceuticals a strong position into the pharmaceutical production of cannabis. This is a very exciting time and opportunity for Easton and more details will be released as they become available. Easton and Alliance expect to have production in about 6 months from its first greenhouse with revenues in the tens of millions. This initiative not only demonstrates Easton's desire to enter the medical marijuana market, which will be federally and nationally legalized in the country of Canada in the spring of 2018, but also demonstrates, along with previous acquisition announcements, Easton's desire to purchase strong revenue producing businesses.
In other developments, Easton's wholly owned subsidiary, iBliss Inc., is currently participating in Europe's leading vapes convention in Birmingham, UK this weekend, between May 26th and May 28th. iBliss is now fully registered and compliant in the EU and expects to complete a distribution agreement with one of the largest and most recognizable vape brands. iBliss also expects to finalize distribution agreements for France and Italy, further fueling its European sales.
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 Common Sense Of Israel, along with two generic cancer drugs, Paclitaxel and Docetaxel from BioLyse Pharma of St. Catherine's Ontario, Canada. Easton has also entered the e-liquids and e-vaporizer market through the acquisition of revenue generating company, iBliss, Inc. with sales expected to reach $15 million.
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Safe Harbor
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.
Easton Pharmaceuticals Evan Karras CEO Tel: +1(416) 619-0291 Tel: +1(347) 284-0192 Email: info@eastonpharmaceuticalsinc.com
