TORONTO, ON--(Marketwired - Sep 23, 2014) - Easton Pharmaceuticals Inc. (
Easton's partner AMFIL Technologies has updated the company and advised that the mPact - GROzone Antimicrobial Systems has received broad interest, is in discussions and has signed non disclosure agreements with the hopes to soon integrate other mPact - GROzone Antimicrobial Systems into a licensed large Canadian medical marijuana grow facility in Canada and into possibly another very large facility who has received a letter to build from Health Canada under the new MMPR system.
Roger Mortimer, President of AMFIL Technologies, commented, "Many more positive updates are expected from AMFIL in the near term. Its business prospects look very promising and can report that the company has sent its technician and inventor to a large Colorado medical marijuana grow facility for a late stage installation update following its installation in July."
As previously announced, Easton Pharmaceuticals has advanced funding and acquired an initial ownership interest in AMFIL Technologies and its mPact - GROzone Antimicrobial System, with an option to purchase a much bigger 32.5% or more ownership interest. AMFIL's lead scientist and inventor is currently in Colorado after a GROzone unit was previously integrated into a commercially licensed, state of the art medical marijuana grow facility in Colorado. The mPact - GROzone Antimicrobial Systems is an exclusive application geared towards the Medical Marijuana Industry and other related legal marijuana growing/processing facilities as well as other types of applications. The mPact - GROzone Antimicrobial Systems is derived from the existing mPact technology which is mainly focused towards the food and beverage industries with successfully installed and performing units cross -- sectionally in the Food/Beverage and Fresh Produce Industries, e.g. Sysco Foods, Nestles, Sun Pacific, Thornbury Apple Cidery, Golden Town Apple, etc. A growing niche market has now been created with the burgeoning Medical Marijuana industry in both the United States and Canada as well as other parts of the world.
In other developments, Easton wishes to apologize to the Canadian Stock Exchange (CSE) for making announcements on its intent to list on the CSE. Easton has made the decision to move towards filing the application on a dual listing on the CSE including forwarding the necessary filing fee and subsequent audit required if approved. However, the company was not aware that rules were in place with the OSC that prohibit any announcements until the application and listing have been approved. Easton regrets the lack in knowledge regarding the rules and hopes to resolve any type of issues this may have caused regarding its dual listing application. The dual listing is to assist in opening up new financing options which presently do not exist with its current listing on the OTC markets. Easton can confirm that it has entered into discussions with a reputable brokerage firm located in Toronto, Canada towards a possible financing. The dual listing will also assist in providing new potential shareholders and liquidity to its current market. Any dual listing if approved would not affect its current listing on OTC markets.
In other developments, the company is close to being able to provide details on negotiations that have been ongoing between Easton and a California medical marijuana grower over the past several months. An NDA was previously executed and hopes to be able to close on an acceptable agreement in the next few weeks. This coincides with its medical marijuana initiatives in Canada where the company currently has an exclusive option to purchase up to 49% in a medical marijuana grow business who has received a letter to build from health Canada towards a national growers license under the new MMPR system for the entire country of Canada. Easton's objective is to become involved in the medical marijuana industry in both Canada and select markets or states in the United States while also focusing on its therapeutic product lines and business.
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 "hope," "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.
Easton Pharmaceuticals Inc.
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Tel: +1(347) 284-0192