By a News Reporter-Staff News Editor at Pharma Business Week -- Easton Pharmaceuticals Inc. (OTC: EAPH) a specialty pharmaceutical company that owns, designs, develops, and markets an array of topically-delivered drugs and therapeutic / cosmetic healthcare products, announces financing update, provides due diligence documents towards financing from a Toronto, Canada, based brokerage firm.
Easton Pharmaceuticals has over the past 12 months been financed from accredited investors through regulation D offerings. These offerings were completed in April of this year where $1 Million was raised, but the offerings are not expected to be utilized again. Although the Company has received other offers for financing through various other avenues including the submission of a Reg. A filing with the Securities and Exchange Commission and investment(s) from private sources, the Company has also been diligently searching to have its financing secured through more traditional value added sources and means such as private placements through institutions. Easton Pharmaceuticals is pleased to announce it has been formally requested to forward all pertinent documents for review as it has reached the due diligence phase with a medium sized brokerage firm, based in Toronto, Canada who have financed numerous private and public Canadian based company's holding Canadian assets or businesses. Any financing may involve a co-listing on a Canadian Exchange, which if implemented would not affect the company's current U.S listing on the OTC markets. Although the financial institution is looking into all parts of Easton's business segments, the main Easton initiative the brokerage firm is looking towards investing into is believed to be its Canadian Medical Marijuana program where a supplementary site visit will be necessary prior to a term-sheet being executed. Easton maintains an exclusive option to purchase a 50% or more ownership interest in a private Canadian Medical Marijuana Company, which has received a letter to build and is close to having a final inspection by Health Canada prior to receiving a grower's license to service the entire country of Canada. This private medical marijuana company is thought to be near the top of a very small list of companies who are to be inspected and granted a growers license in the lucrative medical marijuana industry.
In other developments, Easton can disclose the company has been in negotiations on several fronts and expects to soon be disclosing what are believed to be other extremely positive developments on its OTC products and on other possible Medical Marijuana Agreements with companies in the United States. Other news is also expected with its current partnership with AMFIL Technologies who have shipped an mPact-GROzone Antimicrobial System to a large grower in the State of Colorado. Pictures of the system have been posted and can be viewed on the company's website (see also Medical, Healthcare).
Keywords for this news article include: Healthcare, Medical.
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