Easton Pharmaceuticals Is Short-Listed to Acquire an Interest in an Operating Casino and Hotel Resort in Loutraki, Greece with Revenues in Excess of 60 Million Euro Per Year

TORONTO, ON, Oct. 01, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Easton Pharmaceuticals Inc. (OTC: ) announces that it has made it to the short-list to acquire an interest or participate in the acquisition of Club Hotel Casino Loutraki, a 5 Star casino and hotel resort in Greece. 

The resort comprises of a private beach, 255 rooms and 20 suites, 8 restaurants, a wellness center, conference facilities and an 87 table/1,000 slot machine casino plus a VIP area.  The casino and hotel resort is located in Loutraki, a seaside resort town, approximately 80 kilometers from Athens. The town is well known for its natural springs and therapeutic spas and draws tourists and visitors from all around the world. 

As part of its plan to enter more lucrative market segments, Easton has been working with the bank and the consultants currently in charge of handling the sale of the property in Greece, since early this past summer. This is one of just 9 casinos currently operating in Greece. The opportunity and the advancement is as a result of strong relationships Easton CEO, Mr. Evan Karras currently holds with some senior members of Greece’s current ruling government and other influential business leaders in Greece who are all assisting in bringing the process closer for Easton and the consortium. Mr. Evan Karras participated in the privatization of gaming in Greece in the 1990’s and is familiar with the property and the gaming industry in the country. The acquisition is at a substantial discount of its cost and offers substantial upside in the gaming and hospitality sector, as well as with redevelopment potential for luxury managed condominium vacation units. 

“Being placed on the short list is a very significant step for Easton,” stated Mr. Evan Karras, CEO of Easton, who has commenced several gaming and hospitality initiatives for the company in efforts to bring the company to new levels of growth and success. Mr. Karras further commented, “It is expected and we are hopeful that this opportunity would include Easton and will close on an agreement close to the same time as it hopes to close on its recently announced hotel / development opportunity in the heart of Toronto, Canada, which are also in late stage discussions.”

Additional news updates to be announced as they become available and approved for release.

About Easton Pharmaceuticals

Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. Easton has acquired a 50% property ownership and 2 businesses in Geogina township, Ontario, Canada for aggregate, soil, recycling and other businesses. 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, together with BMV Medica S.A. 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, which they have sub-licensed to Bayer and Gedeon Richter. 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. As part of its strategic growth plan, the Company will be entering new lucrative market segments globally, including Gaming, Real Estate and Hospitality, among others.

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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.