TORONTO, ON--(Marketwired - August 11, 2014) - Easton Pharmaceuticals Inc. (OTC: EAPH) announces it was provided through a company agent / consultant, with a site visit / inspection of the medical marijuana grow-op facilities, located just outside of Toronto, Ontario, Canada pursuant to its previously announced option purchase agreement.
The site visit and inspection of the MMJ facility was in advance of a final site inspection by Health Canada prior to receiving a medical marijuana grower's license under the new MMPR system which took effect on April 1st of this year. Easton Pharmaceuticals is pleased to report that the company and consultants were left extremely impressed with the high quality and thoroughness to detail of the current build out of the medical marijuana facility as per the Health Canada MMPR guidelines. New mandated security fencing has been installed to coincide with a high security vault, cages, large scale humidity control systems and video surveillance system that must be able to maintain surveillance recordings for at least a 2 year period. The facilities are near completion except for some additional electrical infrastructure that is to be delivered and installed prior to the scheduling of the final inspection by Health Canada. The electrical delays are mostly due to the fact the facilities are located in a rural area. The letter to build is only one of 43 that were granted to companies with 13 having thus far been issued licenses under the new MMPR system. Full names, pictures, videos and all other details will be provided once the completion of the final health Canada inspection has been completed.
The site visit and inspection was important as full details of the facility are being confidentially provided to 2 potential investors, one of which includes a brokerage firm located in Toronto, Ontario, Canada, who have entered into negotiations with Easton for a possible financing which may involve a co-listing on the Canadian CNQ exchange. Any co-listing will not affect its current listing on the OTC Markets exchange, but will involve the filing of audited financial statements. Additional news and developments are expected shortly on the exclusive option to purchase up to 50% in the Canada wide medical marijuana growers license.
In other news, Easton has been provided with pictures and short videos by AMFIL Technologies on the groZone antibacterial units as per its press release of last week. They can be viewed on the company's website or by clicking the link below.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company involved in various pharmaceutical sectors and others industries such as medical marijuana. The Company owns, designs, develops, and markets topically-delivered drugs and therapeutic / cosmetic healthcare products, focused on cancer and other health issues geared towards male and female sexual dysfunction, wound healing, pain, motion sickness, scar and stretch marks, cellulite, varicose veins and other conditions. The company has ventured into the potentially lucrative medical marijuana industry through an investment into AMFIL Technologies and their groZONE anti-bacterial system and the exclusive option to purchase up to 50% in a medical marijuana grow-op business / facility which has received a letter to build from Health Canada. 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 Cannabidiol extracts.
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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. Any investment made into Easton Pharmaceuticals would be classified as speculative. 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.