Easton Pharmaceuticals Announces That Easton and Its JV Partner, Alliance Group, Have Generated $40,000 in Revenues in the First Week of Operations
Operations are Anticipated to Continually Increase, Which Includes Volume and Pricing, While it Prepares to Launch Its More Profitable Aggregate Operations
TORONTO, ON, June 11, 2018 (GLOBE NEWSWIRE) -- Easton Pharmaceuticals Inc. (OTC: ) Announces that Easton and its JV partner 1124123 Ontario Limited (O/A - Alliance Group) generated $40,000 in in revenues in the first week of operations on its Georgina property.
After the delivery of heavy machinery to the Georgina property, the company can disclose that operations have generated over $40,000 CDN in revenues in its first week of operations. The revenues received in its first week were from limited operations. Volume and pricing will both begin to increase in the coming weeks which will increase its healthy profit margins. New contracts with new customers who are classified as some of the biggest operators in Southern Ontario are being negotiated and are anticipated to soon close. Concurrent with these operations, Easton and Alliance are preparing to soon start operations on its much more lucrative and profitable aggregate business on its Georgina property as well as its medical marijuana operations which Alliance is working towards commencing. Additional updates will be disclosed as they progress including other segments of its business such as its recently executed agreement with BAYER and other initiatives.
In other news, Easton can disclose that it had high-level discussions last week with a Marijuana license holder from Jamaica, who is also a late stage LP applicant in Canada with regards to distribution and possible partnership. The companies will meet again in two weeks to further discuss their proposed partnership.
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 S.A. and together own the exclusive distribution rights in Mexico and Latin America for two patented women's diagnostic products and a novel natural treatment for Bacterial Vaginosis. In addition, a generic cancer drugs line is being developed for sale in Mexico. 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’s agreement with Ontario based Alliance Group includes a 50% interest in its non-Cannabis related business and 70% interest in the Cannabis business. Once revenues from the Cannabis operations commence, Easton’s interest in non-Cannabis will decrease to 20%. The company will cultivate and distribute medical / recreational marijuana.
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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 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.
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