Easton Pharmaceuticals Announces $1,000,000 cdn In Payments Toward Alliance Group JV / Partnership Agreement; Announces $8,000,000 cdn Aggregate LOI Contract
Easton Pharmaceuticals
September 5, 2017 8:30 am0 Comments
TORONTO, ON–(Sep 5, 2017) – Easton Pharmaceuticals, Inc. (OTC PINK: EAPH), is pleased to announce, pursuant to its previously announced Closing Agreement with Canadian based 124123 Ontario Inc. (O/A – Alliance Group), Easton has advanced $1,000,000 cdn in payments to Alliance Group. Alliance executes $8,000,000 cdn aggregate LOI contract on its 90 acres of zoned industrial land.
Easton Pharmaceuticals has thus far paid $1,000,000 cdn in cash out of $1.3 million cdn to Toronto based 124123 Ontario Inc. (o/a – Alliance Group) to acquire a 50% property ownership interest in 45 acres of agriculturally zoned land north of Toronto, Ontario, Canada and into a business to cultivate, produce and facilitate the sale of its production of medical / recreational marijuana and other revenue producing businesses on a co-managed basis. Alliance has initiated the process to legally grow medical / recreational marijuana with all levels of government in Canada including federal and provincial ministers, municipal governments and law enforcement officials. Alliance anticipates positive news within the next 30 to 45 days regarding its medical / recreational marijuana license exemptions. At Easton option, until such time that approvals and revenues can be legally generated with cultivating and distributing medical / recreational marijuana in Canada, the agreement calls for Easton to receive 50% of all revenues on Alliance’s Aggregate businesses, which includes recycling, manufacturing of various industrial products, waste management services, cement, asphalt and other type aggregate products. Alliance Partners announces that it signed a letter of intent for an approximate $8,000,000 cdn contract with a local construction company which will convert to a final closing agreement once environmental and soil analysis samples have completed testing. Alliance is anticipating and planning for a closed contract by September 30th of this year, but delays in samples may extend this time frame.
