TORONTO, ON -- (Marketwired) -- 08/22/14 -- 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 financing update, provides due diligence documents towards financing from a Toronto, Canada, based brokerage firm.
Easton Pharmaceuticals has over the past 12 months been financed from accredited investors through regulation D offerings. These offerings were completed in April of this year where $1 Million was raised, but the offerings are not expected to be utilized again. Although the Company has received other offers for financing through various other avenues including the submission of a Reg. A filing with the Securities and Exchange Commission and investment(s) from private sources, the Company has also been diligently searching to have its financing secured through more traditional value added sources and means such as private placements through institutions. Easton Pharmaceuticals is pleased to announce it has been formally requested to forward all pertinent documents for review as it has reached the due diligence phase with a medium sized brokerage firm, based in Toronto, Canada who have financed numerous private and public Canadian based company's holding Canadian assets or businesses. Any financing may involve a co-listing on a Canadian Exchange, which if implemented would not affect the company's current U.S listing on the OTC markets. Although the financial institution is looking into all parts of Easton's business segments, the main Easton initiative the brokerage firm is looking towards investing into is believed to be its Canadian Medical Marijuana program where a supplementary site visit will be necessary prior to a term-sheet being executed. Easton maintains an exclusive option to purchase a 50% or more ownership interest in a private Canadian Medical Marijuana Company, which has received a letter to build and is close to having a final inspection by Health Canada prior to receiving a grower's license to service the entire country of Canada. This private medical marijuana company is thought to be near the top of a very small list of companies who are to be inspected and granted a growers license in the lucrative medical marijuana industry.
In other developments, Easton can disclose the company has been in negotiations on several fronts and expects to soon be disclosing what are believed to be other extremely positive developments on its OTC products and on other possible Medical Marijuana Agreements with companies in the United States. Other news is also expected with its current partnership with AMFIL Technologies who have shipped an mPact-GROzone Antimicrobial System to a large grower in the State of Colorado. Pictures of the system have been posted and can be viewed on the company's website.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company involved in various pharmaceutical sectors and others industries such as medical marijuana. The Company owns, designs, develops, and markets topically-delivered drugs and therapeutic / cosmetic healthcare products, focused on cancer and other health issues geared towards male and female sexual dysfunction, wound healing, pain, motion sickness, scar and stretch marks, cellulite, varicose veins and other conditions. The company has ventured into the potentially lucrative medical marijuana industry through an investment into AMFIL Technologies and their groZONE anti-bacterial system and the exclusive option to purchase up to 50% in a medical marijuana grow-op business / facility which has received a letter to build from Health Canada. The company's gel formulation is thought to be an innovative and unique transdermal delivery system that can in the future be adaptable in the delivery of Cannabidiol extracts.
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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. Any investment made into Easton Pharmaceuticals would be classified as speculative. 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.