Easton Pharmaceuticals (OTC: EAPH) this morning said it has advanced C$1 million in payments to Alliance Group pursuant to its previously announced closing agreement with Canada-based 124123 Ontario Inc. (O/A – Alliance Group). In turn, Alliance has executed C$8 million aggregate toward the LOI contract on its 90 acres of zoned industrial land. Easton has now paid a total of C$1 million out of the C$1.3 million required to acquire a 50% stake in 45 acres of agriculturally zoned land north of Toronto, Ontario, Canada, as well as a business to cultivate, produce and facilitate the sale of its production of medical and recreational marijuana on a co-managed basis.
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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 medical 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 and together own the exclusive distribution rights in Mexico and Latin America for patented women’s diagnostic / treatment products Gynofit, AmnioSense, VS-Sense and two generic cancer drugs Docetaxel Paclitaxel. Easton / BMV have sub-licensed products Gynofit and AmnioSense with multi-national pharmaceutical company Gedeon Richter Plc of Hungary. 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 other drugs and Cannabidiol extracts. Easton has closed on an agreement to acquire 100% of iBliss Inc., a leading e-liquid vapour producer and distributor with international sales and has entered into a 50 / 50 JV Partnership agreement with Alliance Partners to cultivate, grow, harvest, distribute and sell medical / recreational marijuana for Canada. For more information on Easton visit: www.eastonpharmaceuticalsinc.com
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