2018/2019 EAPH REVENUES: EAPH/GEORGINA: In early June of this year, soil dumping operations commenced on its Georgina property, jointly owned between Easton and 1124123 Ontario Limited (O/A – Alliance Group) which resulted in the generation of sales with future additional contracts and better pricing planned on a going forward basis. Shortly after the commencement of these operations, the township of Georgina brought forward various court actions in their efforts to stop operations believing that Alliance was possibly accepting contaminated soil, although Alliance had only been accepting clean soil verified by Environmental Reports. The property is currently zoned for aggregate, recycling and soil related uses. In early August, a local court ordered the halt of operations on the property regardless of its aggregate permitted use. Easton’s JV Partner 1124123 Ontario Limited (O/A – Alliance Group) subsequently submitted a challenge through its attorneys and has received an earlier than expected court date of September 13th of this year in an attempt to overturn and reverse what is believed to be an illegal halt of all operations. Should the court action not result in a positive outcome, Alliance and Easton’s attorneys believe it will be victorious on any subsequent litigation actions against the township of Georgina which could result in millions of dollars in damage payouts. Easton’s investment is fully protected with a mortgage registered on the property, as well as by having an agreement resulting in an ownership interest in the property which has been previously independently valuated at $8.2 million cdn. Easton will provide additional detailed updates as they become available and approved. . A court hearing on the Georgina property permit dispute with the township of Georgina, located in Ontario, Canada was adjourned by the township on September 13th with a new court date to soon be set. Easton and its partner Alliance (o/s 1124123 Ontario Inc.) jointly own a 135-acre property which is currently zoned for aggregate and recycling, but the township stopped its soil operations which started in June of this year, following a court order. Easton / Alliance believe it has a strong argument and will seek damages in the millions of dollars for lost revenues. Updates will be disclosed once they are available and approved for release.
