SOURCE: Easton Pharmaceuticals, Inc.

February 07, 2014 09:16 ET

Easton Pharmaceuticals Signs Letter of Intent / NDA, Enters Into Negotiations With Private B.C. Company Who Has Received Federal License Approval on Medical Marijuana & Closes on Agreement to Engage Leading Legal Consultant

TORONTO, ON--(Marketwired - Feb 7, 2014) - 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, today announces It has finalized and closed on agreement to engage a leading legal consultant on medical marijuana. Subsequent to this agreement, Easton has signed a Letter Of Intent / NDA and has entered into high level negotiations with a private company based out of British Columbia who has been approved for a medical marijuana license to grow and distribute medical marijuana throughout all of Canada.

Easton Pharmaceuticals has finalized and closed on an agreement with one of the foremost respected and knowledgeable legal experts and consulting firms in Canada towards medical marijuana. This company is to be lead project manager to draft and file an application on behalf of Easton Pharmaceuticals who will be completely responsible to be project manager and hire security firms, engineers and architects and other experts who will conform the warehouse and facilities to adhere to strict Health Canada Standards for its application.

The name and details of the legal consulting firm are being kept private for a very short period of time as a result of the company executing a letter of intent / NDA and entering into high level discussions with a British Columbia based private company who has just been approved and granted a medical marijuana license for growing and distributing throughout Canada. The introduction and the quick circumstances towards executing the letter of intent was not only unexpected, but was signed 1 day after entering into a contract with the legal consulting firm, superseding all other discussions with other companies. The B.C. private company is one of the first companies to have been approved for a license and is well respected within the industry and by health Canada. They are currently in the process of building out their facility in B.C as per their approved application with plans to apply and open other facilities to serve the greater Toronto area, North America's 4th largest city and other eastern jurisdictions in the country, which may possibly involve Easton Pharmaceuticals. The company and management believe a fair and equitable partnership agreement can be attained, apart from some details and issues. Should negotiations not result in any agreement, the company will continue with moving on its own highly detailed medical marijuana application utilizing the knowledge and expertise of its legal consultant who are currently consulting the government of Uruguay with its own marijuana laws. Negotiations and discussions are to be very fast moving, with an expected decision to be made within the next week to 10 days, followed by a formal announcement.

About Easton Pharmaceuticals

Easton Pharmaceuticals is a specialty pharmaceutical company that owns, designs, develops, and markets topically-delivered Drugs and therapeutic healthcare products, focused on Cancer and other health issues related to male and female sexual dysfunction, wound healing, pain, motion sickness, scar and stretch marks, cellulite, varicose veins and other conditions. The company's gel formulation is thought to be an innovative and unique transdermal delivery system. Easton Pharmaceuticals product "VIORRA," is an over-the-counter aid for the treatment to restore and improve vaginal moisture and elasticity which is believed to have a positive effect on women's sexual desire and arousal, FSAD (Female Sexual Arousal Disorder) the world market for these female conditions are conservatively estimated to be in excess of $2 billion. VIORRA is a topical, daily-use product classified by the FDA as containing Generally Recognized as Safe ingredients.

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