TORONTO, ON / ACCESSWIRE / April 2, 2019 / Easton Pharmaceuticals Inc. (OTC PINK: EAPH) Announces that is has signed a Joint Venture Agreement for the purchase and development of 9 townhomes in Welland, Ontario and provides update on its ongoing contract for the framing of 150 homes in Whitby, Ontario.
Easton is pleased to have signed a joint venture agreement for the purchase and development of 9 townhomes in Welland, Ontario, which is less than 30 minutes from Niagara Falls, Canada. The project will generate in excess of $4 million in revenues over the next 12 months and is scheduled to commence in the next 60 days, once all permits have been issued. This will be the second development project the Company has commenced, after its acquisition of approximately 3 acres in Cobourg, Ontario, where Easton is converting an existing heritage mansion into 6 luxurious residential condominium units, that will generate $2 million in profit for the Company and is expected to generate over $30 million over 3 years with the development of approximately 42 residential units.
Easton has achieved consistent revenues through its various operations and is growing its business daily. The Company has generated over $770,000 in the first quarter of 2019 from its framing contract alone, which it entered into in the last quarter of 2018 for the framing of 150 homes in Whitby, Ontario with a prominent local builder.
Easton further expects the launch of its women's health care products in Mexico in Q2 by multi-national Bayer, whereby Bayer will be making royalty payments to Easton and BMV, Easton's JV partner.
The Company also owns an interest in 135 acres in Georgina, Ontario and is working on a new plan for that property, which was appraised at over $8 million.
Easton has been seeing continued increase in its revenues from its various business initiatives and is committed to continuing to grow the business and realize extraordinary returns for the benefit of its shareholders and investors.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. The Company previously developed and owned an FDA-approved wound-healing medical drug and currently owns topically delivered drugs to treat cancer and other therapeutic products to treat various conditions that are all in various stages of development and approval. Easton, together with BMV Medica S.A. own the exclusive distribution rights in Mexico and Latin America for two patented women's diagnostic products and a novel natural treatment for Bacterial Vaginosis, which they have sub-licensed to Bayer and Gedeon Richter. In addition, a generic cancer drugs line is being developed for sale in Mexico. The company's gel formulation is thought to be an innovative and unique transdermal delivery system that can in the future be adaptable in the delivery of other drugs. As part of its strategic growth plan, the Company has entered new lucrative market segments globally, including Gaming, Real Estate and Development, Food and Beverage and Cannabis.
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This news release may contain forward-looking statements or expressions within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when certain words or phrases such as "hope", "positive", "anticipate," "pleased," "plan," "confident that," "believe," "expect," "possible" or "intent to" and similar conditional expressions are expressed, they are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Any investment made into Easton Pharmaceuticals may contain risks. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company's financial reports and filings.
Easton Pharmaceuticals, Inc.
SOURCE: Easton Pharmaceuticals, Inc.
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