TORONTO, ON -- (Marketwired) -- 07/01/14 -- Easton Pharmaceuticals Inc. (OTC: EAPH) a specialty pharmaceutical company provides status update on its medical marijuana initiative.
Easton Pharmaceuticals Inc. announces that as per updates it has received, site facility build-out as mandated per health Canada MMPR guidelines are near completion and soon ready for the scheduling of a new inspection on MMJ property where Easton holds exclusive option to purchase up to 50% ownership interest in private MMPR medical marijuana grower located in Ontario, Canada. The private MMJ Company has nearly completed the process of finalizing all Health Canada site facility build-out requirements and continues to remain confident that an inspection by Health Canada will ultimately result in full approval of a Medical Marijuana Growers License. It is believed that only a lighting issue was the main impediment which needed to be addressed. Currently, only 13 companies have received medical marijuana growers' licensees under the new MMPR system that went into effect on April 1st of this year. Health Canada has provided conservative revenue guidance to the profitability of the new MMPR system which can be viewed on its website. Easton has received many inquiries for disclosure and details of the private company, however the company at this point is unable to provide any names or further information that would adversely affect the license which has been the case with other US based companies in similar type circumstances. No other updates including which town the facility is located can be provided.
In other news, Easton has closed on an agreement on another medical marijuana initiative and will shortly make a formal announcement along with other updates on its other products and business initiatives.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company involved in various pharmaceutical sectors 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 is also endeavoring to enter other potentially lucrative industries such as medical marijuana. 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 is conservatively estimated to be in the billions.
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