Easton Pharmaceuticals Inc (OTCMKTS:EAPH) has announced that it is moving a letter of intent after starting talks with 2 AMPR applicants. Of the applicants has been issued with the Health Canada Compliance number towards Canadian Marijuana growers/cultivators license.
Following the recently announced talks with an AMPR applicant as well as a number of positive developments, the company will be sending a letter of intent to one of the AMPR applicant to express interest in a possible development.
One of the 2 AMPR applicants that Easton is currently talked to has been issued with the Health Canada compliance number after submitting its AMPR application for marijuana growers/cultivators license. The ongoing negotiations are as a result of the company’s quest to buy assets and businesses in several pharmaceutical sectors plus other upcoming industries. The end goal is to increase value to the shareholders.
The company has announced that after conducting assessments, its newly constituted board of directors will be issuing updates and giving directions to shareholders regarding the decision on various businesses and partnerships. Some of the updates will highlight of the abandonment of talks on some of the recently announced and executed programs, while at the same time undertaking changes on other partnerships and businesses.
Easton Pharmaceuticals expanding into the Mexican market
In other developments, Easton Pharmaceuticals has entered into an agreement with Bayer Consumer Care, the subsidiary of BAYER for the distribution of Easton / BMV’s licensed product known called VS-Sense in the Mexican market. Easton Pharmaceuticals entered into the agreement through its partner BMV Medica SA de CV.
The company has announced that it has sealed the agreement and BAYER has already made an initial payment in accordance with the agreed terms of the agreement. The company expects to receive the additional payment after launching the product and will also be entitled to portion of the loyalties paid for the next five years as per the agreed terms of the agreement.
The date for the launch of VS-Sense is currently being deliberated and the products will be marketed and sold under the new BAYER brand name. The decision on the launch will be made by BAYER.