Easton Pharmaceuticals Signs Letter of Intent / NDA, Enters Into Negotiations With Private B.C. Company Who Has Received Fede...
February 07 2014 - 9:16AM
Marketwired
Easton Pharmaceuticals Signs Letter of Intent / NDA, Enters Into
Negotiations With Private B.C. Company Who Has Received Federal
License Approval on Medical Marijuana & Closes on Agreement to
Engage Leading Legal Consultant
TORONTO, ON--(Marketwired - Feb 7, 2014) - 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 It has finalized and closed on agreement
to engage a leading legal consultant on medical
marijuana. Subsequent to this agreement, Easton has signed a
Letter Of Intent / NDA and has entered into high level negotiations
with a private company based out of British Columbia who has been
approved for a medical marijuana license to grow and distribute
medical marijuana throughout all of Canada.
Easton Pharmaceuticals has finalized and closed on an agreement
with one of the foremost respected and knowledgeable legal experts
and consulting firms in Canada towards medical marijuana. This
company is to be lead project manager to draft and file an
application on behalf of Easton Pharmaceuticals who will be
completely responsible to be project manager and hire security
firms, engineers and architects and other experts who will conform
the warehouse and facilities to adhere to strict Health Canada
Standards for its application.
The name and details of the legal consulting firm are being kept
private for a very short period of time as a result of the company
executing a letter of intent / NDA and entering into high level
discussions with a British Columbia based private company who has
just been approved and granted a medical marijuana license for
growing and distributing throughout Canada. The introduction and
the quick circumstances towards executing the letter of intent was
not only unexpected, but was signed 1 day after entering into a
contract with the legal consulting firm, superseding all other
discussions with other companies. The B.C. private company is one
of the first companies to have been approved for a license and is
well respected within the industry and by health Canada. They are
currently in the process of building out their facility in B.C as
per their approved application with plans to apply and open other
facilities to serve the greater Toronto area, North America's 4th
largest city and other eastern jurisdictions in the country, which
may possibly involve Easton Pharmaceuticals. The company and
management believe a fair and equitable partnership agreement can
be attained, apart from some details and issues. Should
negotiations not result in any agreement, the company will continue
with moving on its own highly detailed medical marijuana
application utilizing the knowledge and expertise of its legal
consultant who are currently consulting the government of Uruguay
with its own marijuana laws. Negotiations and discussions are to be
very fast moving, with an expected decision to be made within the
next week to 10 days, followed by a formal announcement.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company
that owns, designs, develops, and markets topically-delivered Drugs
and therapeutic healthcare products, focused on Cancer and other
health issues related to male and female sexual dysfunction, wound
healing, pain, motion sickness, scar and stretch marks, cellulite,
varicose veins and other conditions. The company's gel formulation
is thought to be an innovative and unique transdermal delivery
system. Easton Pharmaceuticals product "VIORRA," is an
over-the-counter aid for the treatment to restore and improve
vaginal moisture and elasticity which is believed to have a
positive effect on women's sexual desire and arousal, FSAD (Female
Sexual Arousal Disorder) the world market for these female
conditions are conservatively estimated to be in excess of $2
billion. VIORRA is a topical, daily-use product classified
by the FDA as containing Generally Recognized as Safe
ingredients.
For More Information Visit http://www.eastonpharma.com
http://www.ashleybiomedical.com
Safe Harbor
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 "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. 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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