TORONTO, ON / ACCESSWIRE / April 8, 2019 / Easton Pharmaceuticals Inc. (OTC PINK: EAPH) provides update on the closing of its agreement to acquire a commercial bakery with existing revenues and projected to reach over $20,000,000 within 12 months.
Easton announced earlier in March that it had signed a Definitive Agreement to acquire a commercial bakery and food preparation company with existing revenues and projected revenues in excess of $20,000,000 over the next 12 months. Easton’s legal counsel believes that all documents will be completed this week with signatures and exchange of documents.
Easton is acquiring a revenue generating commercial bakery and food preparation company in Toronto, Ontario, Canada. The bakery operates from a 40,000 square foot production facility and produces white label food products for third party food companies and its own line of niche food product lines, sold in major grocery chains, as well as specialty coffee chains in Canada and the United States. The company has an R&D division with full product development.
The Company recently announced that it has also signed a Letter of Intent with a Licensed Producer of medical marijuana in Canada in order to develop and supply cannabis edible products through its client network. Easton has had several meetings with the principals of the LP and is working towards completing a Definitive Agreement.
Easton has been working on a transition plan in anticipation of the closing and has been involved in the daily operations of the business since the Definitive Agreement was signed. More information will be announced and disclosed once the transaction is completed.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. The Company previously developed and owned an FDA-approved wound-healing medical 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, together with BMV Medica S.A. own the exclusive distribution rights in Mexico and Latin America for two patented women’s diagnostic products and a novel natural treatment for Bacterial Vaginosis, which they have sub-licensed to Bayer and Gedeon Richter. In addition, a generic cancer drugs line is being developed for sale in Mexico. 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. As part of its strategic growth plan, the Company has entered new lucrative market segments globally, including Gaming, Real Estate Development, Food and Beverage and Cannabis and has already created divisions.
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SOURCE: Easton Pharmaceuticals Inc.
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