TORONTO, ON--(Marketwired - Jan 20, 2015) - Easton Pharmaceuticals Inc. (
Easton Pharmaceuticals has been searching to enter the highly Lucrative Medical Marijuana Grower market within legalized jurisdictions. Medicated Markets International LLC, is a current grower / cultivator located in the City of Perris, California, (20 acres) Riverside county and one main growing location in Mendocino County, California with a total actual growing area of approximately 3 acres. Medicated Markets has been looking to buy assets in Canada, including submission of their own MMPR application to Health Canada, or by buying a controlling interest in an already Licensed Provider. A growing US economy as well as strong Medical Marijuana demand In California, while Canadian assets have been falling has made this opportunity and agreement to be a great benefit for both companys.
The recent sharp drop in the Canadian Dollar was also a driving factor in the completion of this deal, as Canadian assets have become much more attractive at discounted rates in US Dollar terms. Easton's US partners have shown great interest in diversifying through Joint venture operations in Canada centered on patient acquisition as well as transdermal medication delivery and associated product launch. Details on these initiatives in both US and Canadian markets should be ready for disclosure by early next week. The two Medicated Markets Califiornia Master grower License numbers are #B8377788, and #330471333. More pictures of current mother plants used for cloning, dispensary cash receipts as well as grow location addresses will be available at https://twitter.com/medimarkets in the coming days.
Medical cannabis is commonly used to self-treat severe pain associated with Cancer, arthritis, musculoskeletal pain and other ailments. As of June 2014, estimates from the office of Information Commissioner of Canada list "severe arthritis" as the main reason 65% of Canadians are possessing marijuana for medicinal purposes. Proposed initiatives hope to eventually allow the transdermal delivery of medicinal marijuana to a patient's area of pain, without having to inhale through the lungs. Currently McGill University, McMaster University, and University of Guelph have ongoing research projects into Medical Marijuana in Canada.
The Medical Marijuana Movement in North America started in California, which was the first state to establish a medical marijuana program, enacted by Proposition 215 in 1996 and Senate Bill 420 in 2003. Prop. 215, also known as the Compassionate Use Act, was approved by an initiative with a 55% majority, allowing people with cancer, AIDS and other chronic illnesses the right to grow or obtain marijuana for medical purposes when recommended by a doctor. SB 420, or the Medical Marijuana Protection Act, was signed into law by Governor Gray Davis and established an identification card system for medical marijuana patients. Marijuana advocates are hopeful that if they can get a legalization measure on the ballot in California in 2016, it will pass and federal reform will follow shortly afterwards.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company involved in various pharmaceutical sectors and others industries such as medical marijuana. The Company previously owned an FDA approved wound healing drug and currently owns topically-delivered drugs to treat cancer and other conditions that are in various stages of development with 3 of its OTC products to soon be ready for marketing and sale. Easton has completed an acquisition that grants a 40% ownership interest in Medicated Markets International LLC; a California Licensed Medical Marijuana Grower on 20 acres (3 acre growing area). Easton has also made additional investments into AMFIL Technologies and their groZONE anti-microbial airflow system, and have an exclusive option to purchase up to 49% in a medical marijuana grow-op business post granting of license from Health Canada, located in Ontario, Canada 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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