Easton Pharma Advances $575,000 Payment Towards Closed Agreement With Alliance Group For The Cultivation Of Medical / Recreational Marijuana
TORONTO, ON–(Marketwired – Aug 16, 2017) – Easton Pharmaceuticals, Inc. (OTC PINK: EAPH), pursuant to its previously announced closing agreement with Canadian based — Alliance Group — Easton has advanced $575,000 towards its acquired interest in 45 acres of a 135-acre fully owned parcel of land for the cultivation, production and sale of medical / recreational marijuana to the cannabis industry and towards other revenue producing businesses.
Pursuant to the agreement, Easton Pharmaceuticals has thus far paid $575,000 CDN of $1.3 million CDN to Toronto based Alliance Group to acquire an interest in 45 acres of agriculturally zoned land north of Toronto, Ontario, Canada to cultivate, produce and facilitate the sale of its production of medical marijuana and other lucrative revenue producing businesses on a co-managed basis. Alliance has already initiated the process to legally grow medical / recreational marijuana which it anticipates receiving and conveying positive news on within the next 30 to 60 days. Until such time that approvals and revenues can be generated with cultivating and distributing medical / recreational marijuana, Easton will receive 50% of all revenues on Alliance’s aggregate businesses, which will start generating revenues within the next 30 days with contracts and purchase orders currently in place which will be announced on a subsequent release. The aggregate business is estimated to generate several millions of dollars in its first year with significant profit margins. Easton’s investment and guarantee on revenues are further securitized by the 135-acre property which has recently been given an independent appraised value in excess of $8,000,000, substantially greater than the original estimate used for Easton’s investment.
Alliance Partners are confident that all hurdles to grow legalized medical / recreational marijuana on its property for Canada will be cleared shortly paving the way for production within 6 months from its first greenhouse facility. If correct, this would give Easton Pharmaceuticals and Alliance a strong foothold into the production of cannabis for pharmaceutical and recreational uses as well as maintaining the option to retain 50% of the aggregate businesses, which include recycling, manufacturing of various industrial products and waste management with million dollar contracts currently in place. Recreational marijuana will be federally and nationally legalized and available in Canada in the spring of 2018.
The CEO of Alliance Partners stated, “We are very pleased to have entered and closed with Easton Pharmaceuticals as we believe Easton’s investment and partnership will be very lucrative to both parties. Additional positive updates are forthcoming.”
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 and two generic cancer drugs. 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. Easton has closed with Alliance Venture partners towards the cultivation of medical / recreational marijuana in Canada and other aggregate businesses.
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