TORONTO, ON - (NewMediaWire) - November 17, 2015 - Easton Pharmaceuticals Inc. (OTC PINK: EAPH) announces it has cancelled 200 million common shares back to treasury, provides update on Canadian Medical Marijuana Initiative, and reports its recent attendance at the Congress of Obstetrics and Gynecology held in Acapulco was a huge success.
Easton Pharmaceuticals previously advanced funds towards an investment into Amfil Technologies, which also provides Easton with the option to purchase up to 32% of AMFIL Technologies. Easton's partner, Amfil Technologies, has provided detailed updates on its initiatives where it has reported completing a beta test of the GroZone 60 system in Today's Health Care of Colorado Springs. Amfil Technologies is now shifting its focus from proving the efficacy of the new product line to sales. With favorable results as originally anticipated, Amfil representatives will be shortly returning to Colorado following THC's (a large Colorado based grower) recent purchase of additional parts and miscellaneous equipment needed to pipe in Amfil's GroZone 60 system throughout the rest of the Today's Health Care facility. This will fully integrate the aqueous aspect of the system throughout the rest of the segregated grow rooms. The full automation and integration of the gaseous aspect will be a topic of discussion throughout the visit as it is a more costly component and needs some minor site planning and preparation on behalf of both parties to execute. Amfil anticipates rolling out this addition to their existing operations in the near future.
While in Colorado, Amfil representatives have a line-up of appointments with licensed producers in the Denver and Colorado Springs area, including companies that have recently been highlighted in the media with pesticide issues which have led to lawsuits filed against their companies. Amfil believes, had these facilities been utilizing the GroZone system, these problems would have been avoided. While damage has been done to these specific companies' reputations, it is not too late to remedy and ensure these types of problems will no longer be an issue and set a new standard providing an edge over and above competitors.
During Amfil's trip to Colorado, samples of product will be taken from a control room and compared to samples of product grown in the GroZone 60 room and will be sent to one of the most reputable third party lab testing service providers in the state. This information will be posted and disclosed once the company receives the results, which it expects to be favorable. While visual and in-house testing has been performed to date with positive results, the company wants third party lab results to confirm the decision of any potential customer to consider purchasing and integrating a GroZone system into their facility. The company is hoping to see, among other things, increased yields and increased potency on either the THC or CBD level dependent on the strain as well as most obviously a zero content of residual bacteria, mold, mildew, etc. associated with production of this particular crop. The facility itself gauges the reduced water consumption, increased overall health and well-being of the plants, the extended life of the nutrient mixes and the elimination of the need for pesticides as 99.9% of all pathogens both airborne and in the water supply are prevented and/or destroyed. Amfil believes its efforts will now allow GroZone to become a recognizable, household name within the industry as it pushes the product into facilities across North America with proven and undeniable results to back it up.
In other medical marijuana news, Easton Pharmaceuticals has received verification that MDRM Canada is officially no longer involved and no longer represents an obstacle for Easton Pharmaceuticals regarding an Ontario based grower who has received a letter to build from Health Canada to obtain a cultivators license for the country of Canada under the new MMPR system. Several weeks ago, the country of Canada elected a new liberal federal government who previously stated their mandate to eventually legalize marijuana in much the same way as the State of Colorado has. The newly elected liberal government is believed to soon open the doors to removing obstacles in granting new additional licenses to new cultivators and growers in Canada's Medical Marijuana industry, which was previously operating at a snail's pace with the previous conservative government. Easton has made contact and is now attempting to negotiate on its own with the Ontario based grower, which it was previously unable to do due to previous agreements. Easton will shortly be launching a lawsuit against MDRM Canada for the return of funds previously advanced and to attempt to obtain credit for funds indirectly advanced to the Ontario based grower who currently hold a letter to build under the new MMPR system.
In other news, Easton Pharmaceuticals announces it has cancelled 200 million common shares issued in June of 2014 to Medicated Markets International which were being held in escrow. The cancellation is as a result of its cancellation of its agreement executed with Medicated Markets International. In conjunction with its cancellation of its agreement, Easton has initiated a lawsuit against Medicated Markets and various individuals located in Canada for misrepresentation and fraud over $5,000. Easton is demanding the return of funds advanced and for punitive damages incurred. The reduced share count will be posted in its 4th quarter financial statements. Easton anticipates filing its 3rd quarter financial statements within the next 5 days.
In other news, Easton Pharmaceuticals is pleased to report that Easton and BMV Medica's recent attendance annual Mexican Congress of Obstetrics & Gynecology was a huge success. The show was an introduction to its 3 approved products which are currently available for marketing and sale in Latin America, with approval in the huge Mexican market anticipated to soon be approved. The show received an enthusiastic response from doctors with orders pending the finalization of branding and packaging and distribution agreements. The current approved products are the AL-Sense Amniotic Fluid Diagnostic Test, the VS-Sense Diagnostic Test and the GynoFit Lactic Acid Gel Treatment For Bacterial Vaginosis (BV). BV will eventually affect 1 in 3 woman at some point in their lives representing a huge untapped market for these products which are currently being sold in Europe and North America. Additional updates to soon follow.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries such as medical marijuana. The Company previously developed and owned an FDA approved wound-healing drug and currently owns topically delivered drugs to treat cancer and other therapeutic products to treat various conditions that are all in various stages of development and approval. Easton has entered into a 50 / 50 revenue sharing agreement towards being the exclusive distributor in Mexico and Latin America for patented women's diagnostic products and two generic cancer products. Easton has also made additional investments into Amfil Technologies, a company who owns rights to a product called the groZONE anti-microbial airflow system and holds an exclusive option to purchase up to 49% in a (MMPR) medical marijuana grow-op business post granting of license from Health Canada in Ontario, 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 other drugs and Cannabidiol extracts.
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