TORONTO, ON / ACCESSWIRE / April 12, 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 this week that its legal counsel believed that all documents would be completed this week with signatures and exchange of documents. Due to schedule conflicts between legal counsel, the official closing has been re-scheduled for the week of April 15th, 2019.
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.
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 Real Estate Development, Food and Beverage, Gaming and Cannabis.
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This news release may contain forward-looking statements or expressions within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when certain words or phrases such as "hope," "positive," "anticipate," "pleased," "plan," "confident that," "believe," "expect," "possible" or "intent to" and similar conditional expressions are expressed, they are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Any investment made into Easton Pharmaceuticals may contain risks. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company's financial reports and filings.
SOURCE: Easton Pharmaceuticals, Inc.