TORONTO, ON--(Marketwired - April 03, 2014) - Easton Pharmaceuticals Inc. (OTC: EAPH) announces the appointment of Mr. Kent A. Deuters to the position of Chief Operations Officer and Special Advisor.
Kent Deuters adds 20 years of financial banking, payment processing, branding, food industry and medical marijuana expertise. He has structured and developed business plans, patient acquisition strategies and operating procedures for several companies in the medical marijuana industry in both Canada and the United States. Mr. Deuters has an extensive well respected business background in both large and small international companies and highly experienced in business development. Easton Pharmaceuticals is aggressively looking to identify a diverse cross section of opportunities that will deliver shareholders accelerated growth and the substantial revenue streams. Kent Deuters is developing tactical business partnerships and joint ventures in the $900,000,000 per anum Colorado marijuana market and is seeking early entry into Washington, Oregon and other soon to be licensed states. Easton's pharmaceutical's industry experience will also allow them to develop alternate delivery systems for medicinal users on top of our Viorra and other brand of products through the assistance of BMV Medica in Mexico.
Kent has been brought on board specifically in the short term, to quickly evaluate all medical marijuana proposals Easton Pharmaceuticals has maintained, which has grown and presently involves negotiations with 4 companies or groups in Canada and one in Colorado. These include negotiations with a well established grower in British Columbia that has recently forwarded a revised proposal to Easton for review, an Ontario company that has filed for a well detailed growers application in Ontario, which includes privately owned growing facilities and discussions for a partnership to create or acquire a slew of medical marijuana companies and assets within Canada. In addition to the Canadian medical marijuana initiatives is a Letter Of Intent that was signed for a partnership for a proposed acquisition of a current grower in the State of Colorado which the company's attorney has been currently reviewing and performing due diligence on. Mr. Deuters has received approval from Easton to travel to Colorado in the coming days to make an introduction to Easton Pharmaceuticals with contacts he has earned close relationships with in the medical marijuana industry who are current growers and in search of partners and expansion financing. Easton Pharmaceuticals has recently been successful at raising some financing. The company would like to close on medical marijuana initiatives in both Canada and the United States, which is conceivable if the company receives its additional committed financing as previously announced. The company is in the final stages of drafting and filing a registration statement for the purpose of raising up to $5,000,000.
Kent Deuters, commented, "I am thrilled to be working with Easton Pharmaceuticals in this remarkable space that is only in its infancy stage," Deuters further commented. "Opportunities abound for a company like Easton in the US market. We want to establish ourselves as a major player, and I believe we are primed for huge expansion and growth."
In Canada, health Canada estimates that the current legal users of medical marijuana will grow from its current level of 30,000 users to over 400,000 by the year 2020. If Marijuana is legalized for recreational use as in Colorado and other states, this number will grow exponentially. The market in Colorado is already unable to meet demand since being legalized for recreational use in early January of this year. Other states are anticipated to follow the lead from Colorado which could pave the way for the decriminalization of marijuana use by the Unites States federal government.
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 a deal acceptable to the company. 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.