EAPH fully funded and has little to no long term Debt. No concerns about funding EAPH is funded.
TORONTO, ON--(Marketwired - Mar 3, 2017) - Easton Pharmaceuticals Inc. ( OTC PINK : EAPH ) Announces it has closed on an interim financing with additional financing funds committed
Easton Pharmaceuticals has closed on an interim financing facility up to $2,000,000, of which it has been provided access to. This facility also provides for an additional commitment of funds depending upon the company's requirements. Terms of the facility are in the form of a loan, convertible to restricted common shares of Easton stock. Easton intends to use the funds to complete various acquisition targets of revenue generating companies that are strategic in the company's growth plan which includes possibly expanding its licensed products and the utilization of a possible sales force for further sales in Mexico, Central and Latin America.
Although moving slower than expected, the proposed acquisition of iBliss Inc. announced in early February is progressing well with negotiations on various terms and outstanding items nearing consensus. An anticipated closing is to be finalized shortly. There are currently several companies Easton has been in discussions with as target acquisition(s) and / or joint venture opportunities, which includes the Cannabis market. Easton expects to finalize and close on any number, which are expected to deliver millions of dollars in revenues for the company.
Evan Karras, CEO of Easton Pharmaceuticals, stated, "The financing facility is an important step to move the company forward allowing us to finalize some potentially lucrative acquisition(s) / joint ventures which includes a possible expansion of our licensed products and future sales force in Mexico, Central and Latin America as part of our strategic growth plans." Mr. Karras further commented, "We are optimistic with our recent 'Gynofit' product launch through our distribution partners Gedeon Richter and their Mexican subsidiary company, which would complement the anticipated closing of iBliss and their growing international sales of vaporizers, e-liquids and medical marijuana initiatives as drivers of success for 2017 and well into the future for Easton Pharmaceuticals."
