EAPH to receive 50% of all net revenues on Alliance’s Aggregate businesses, which following the closing of the aforementioned agreement, will commence very shortly generating revenues. Yes, EAPH's 4th Quarter going to set new financial records!
Easton Pharmaceuticals and Alliance Group Announces the Closing Of Its First Aggregate Contract Valued At $6,000,000 CDN On Its 90 Acre Portion Of Industrial Zoned Land
Easton Pharmaceuticals
August 23, 2017 9:00 am0 Comments
TORONTO, ON–(Aug 23, 2017) – Easton Pharmaceuticals, Inc. (OTC PINK: EAPH), is pleased to announce, pursuant to its previously announced Closing with Canadian based, joint venture partner, 1124123 Ontario Limited (dba / operating as – Alliance Group) — executes $6,000,000 CDN aggregate contract on its 90 acres of industrial zoned land.
The contract Alliance Group has executed is for its Aggregate business on its 90 acres of industrial zoned land, which includes recycling, manufacturing of various industrial products and waste management services. The contract was executed with several local construction companies who appreciated the location and its close proximity to a major metropolitan city such as Toronto, currently undergoing an extended unparalleled construction boom. Easton / Alliance believe this contract represents the first of possibly many other similar type contracts from other construction companies, currently being negotiated. At Easton’s option, the Company is entitled to 50% of the net revenues from this contract and any other additional aggregate contracts executed until such time Alliance is provided with the rights to cultivate, produce and facilitate the sale of medical / recreational marijuana for the country of Canada. Recreational marijuana consumption will be legal in Canada starting in the spring of 2018.
Easton Pharmaceuticals has thus far paid $575,000 CDN and is in the process of forwarding another $400,000cdn payment out of a committed total of $1.3 million CDN to Toronto based 1124123 Ontario Limited (dba / operating as – Alliance Group) to acquire an interest in 45 acres of agriculturally zoned land out of the 135 acre parcel owned by the company north of Toronto, Ontario, Canada 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 previously initiated the process to legally grow medical / recreational marijuana and believes it is in the late stages of being cleared sometime within the next 30 to 60 days barring any unforeseen last minute obstacles. Until such time that approvals and revenues can be generated with cultivating and distributing medical / recreational marijuana, the agreement calls for Easton to receive 50% of all net revenues on Alliance’s Aggregate businesses, which following the closing of the aforementioned agreement, will commence very shortly generating revenues. Additional contract updates and announcements are pending completion.
Vince Demasi, speaking on behalf of Alliance Group stated, “Alliance is pleased to have entered into our first contract for our aggregate business, which demonstrates to Easton and its shareholders that Alliance can deliver on what was represented. This partnership will yield positive results for everyone.” Mr. Demasi further stated, “This contract is the precursor of what is believed to be many more similar type agreements to follow.”
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