Easton Pharmaceuticals Finalizing Investment Terms in Private Medical Marijuana Device Company; Moves to Initiate Legal Actio...
June 25 2014 - 1:16PM
Marketwired
Easton Pharmaceuticals Finalizing Investment Terms in Private
Medical Marijuana Device Company; Moves to Initiate Legal Action
Against Libelous Seeking Alpha Article
TORONTO, ON--(Marketwired - Jun 25, 2014) - Easton
Pharmaceuticals Inc. (OTC: EAPH) is near final agreement with a
medical marijuana technology company specializing in controlled
environment agricultural technologies.
Easton Pharmaceuticals, following due diligence, is moving
towards investing in medical marijuana device technology and
agricultural product. The investment objective manufactures
products designed to ensure that medical marijuana cultivation,
bottling, edibility, extract manufacturing and dispensaries
maintain the highest quality of food safety standards for
antimicrobial and bacteria free facilities. Easton's management
believes this great investment opportunity will meet strong
industry demand and generate positive revenues which will be
highlighted in greater detail following a closing
agreement. This investment coincides with the company's
over-the-counter delivery technology products including
Viorra, a
non-invasive topical treatment intended to assist women suffering
from a range of Female Sexual Arousal Disorders (FSAD).
Easton, in addition to Viorra, maintains a minority ownership in
the early stage cancer drug Xilive which is near finalizing on a
deal to have this position vastly increased due to positive
responses from patent attorneys. Added to these products and
initiatives is a 50% ownership in the early stage drug for the
treatment of female sexual arousal disorder. The company's medical
marijuana initiatives alongside Viorra are deemed to be the best
short term options as excellent potential revenue producers. Easton
still maintains discussions with third party partners to open a
medical marijuana dispensary(s) in certain counties and
jurisdictions within the State of Michigan.
An update to Easton's medical marijuana grower's license
initiative within the country of Canada is anticipated to be the
company's upcoming announcement.
In other developments, Easton Pharmaceuticals is moving towards
taking action against libelous statements made by multiple online
sources, in particular Seeking Alpha. The article
published March 18, 2014 was written by a Matt Finston who made
inaccurate and libelous statements attacking Easton's trading
stock. Easton is now taking action against Finston after the
company's progress on its medical marijuana initiatives and its
wholehearted attempt to give Mr. Finston the benefit of the doubt
prior to legal action to allow a retraction of certain statements
proved fruitless. The article makes several false and misleading
statements about Easton, its product line and history as well as
allegations that the company was part of a pump and dump scheme a
year earlier which are completely false and libelous. Easton
Pharmaceuticals has retained counsel to pursue to the fullest
extent of the law Mr. Finston and anyone who affiliated with,
encouraged or directed his assignment. Mr. Finston's libelous
article has damaged the company with not only market cap but with
discussions it was having with other third parties.
Easton's management contacted Mr. Finston about misstating that
the company tried to sell Viorra in 1998 when, in actuality, the
product's acquisition date was 2009. This writer then changed
only the date but made no retraction of any type nor any attempted
apologies for the grievous mistake. Mr. Finston then alleged
that Easton issued restricted shares a year prior for the purpose
of planning a pump and dump with Global links. Management
has never issued any shares for pump and dump schemes and it should
be noted that those shares belonged to a senior consultant by the
name of Mr. Neil Mellor, have yet to be and will never be deposited
due to a conflict of interest with Mr. Mellor and his company. This
was a defamatory statement which was supposed to be retracted once
facts, other inaccuracies and judgments were made clear. This
has not happened. Mr. Finston also stated the company was
unavailable for comment even though no calls were received. Since
his article, Easton has made several requests for Mr. Finston to
contact and speak with Easton's management and
consultants. However, he has refused to respond to all phone
call requests, thus contradicting his own statements. The article's
release was at or near the company's peak common stock price, which
was followed by countless negative and defamatory postings on
several web investor portals namely Investorhub, which
continue to this day.
Carla Pepe, CEO of Easton Pharmaceuticals, stated: "We are
currently exploring all of our legal options for relief. In
addition we believe this to be part of a larger orchestrated effort
to short Easton Pharmaceuticals stock so individuals can illegally
profit from the company's decline. The company is not against the
practice of shorting stocks, but is vehemently against anyone
posting inaccurate and defamatory statements to achieve their
goals. We are in the process of alerting the regulatory bodies
about the events and have instructed counsel to take action against
Mr. Finston and any others involved. Our company is doing its
utmost to grow its business and enter into certain business
segments that can ultimately allow the company to be successful and
positive revenue generating. We believe we have a tremendous
opportunity ahead in the medical cannabis sector coinciding with
our other products and businesses. We remain dedicated to executing
our business plan and look forward to updating investors on new and
potentially significant milestones for the company as the quarter
and first half of the year comes to a close later this month."
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company
involved in various pharmaceutical sectors that owns, designs,
develops, and markets topically-delivered drugs and therapeutic /
cosmetic healthcare products, focused on cancer and other health
issues related towards male and female sexual dysfunction, wound
healing, pain, motion sickness, scar and stretch marks, cellulite,
varicose veins and other conditions. The company is also
endeavoring to enter other potentially lucrative industries such as
medical marijuana. 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,
topical daily use product and 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 is conservatively estimated to be in the billions.
For More Information Visit:
http://www.eastonpharmaceuticalsinc.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 "anticipate," "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. There are no guarantees or assurances that any
proposals, initiatives or negotiations will result in what the
company had originally intended. Any investment made into Easton
Pharmaceuticals would be classified as speculative and risky. 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.
Carla Pepe Easton Pharmaceuticals Inc. Tel: +1(416) 619-0291
Tel: +1(347) 284-0192 Email: info@eastonpharmaceuticalsinc.com
Email: legal@eastonpharmaceuticalsinc.com
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