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Easton Pharmaceuticals Announces It Has Provided Notification and Entered Into Discussions to Terminate Its Canadian Medical Marijuana Option Agreement With MDRM Canada
Easton Pharmaceuticals Announces It Has Provided Notification and Entered Into Discussions to Terminate Its Canadian Medical Marijuana Option Agreement With MDRM Canada.
About this update from Easton Pharmaceuticals Inc
[{"type":"text","content":"\n \n \n Easton Pharmaceuticals Announces It Has Provided Notification and Entered Into Discussions to Terminate Its Canadian Medical Marijuana Option Agreement With MDRM Canada\n \n \nEaston Pharmaceuticals Announces It Has Provided Notification and Entered Into Discussions to Terminate Its Canadian Medical Marijuana Option Agreement With MDRM Canada\n \n TORONTO, ON--(Marketwired - Jun 1, 2015) - Easton Pharmaceuticals (OTC PINK: EAPH), a specialty pharmaceutical company announces today it has notified MDRM Canada and initiated discussions to cancel its option with MDRM Canada to purchase a 49% ownership interest in Aero Farms. \n Easton Pharmaceuticals entered into an option agreement with MDRM Canada in June of 2014. The agreement provided Easton with an option to purchase up to 49% of Aero Farms through rights held by MDRM with Aero Farms, a private Ontario based company who has received a letter to build from health Canada under Canada's new medical marijuana program (MMPR). Easton and MDRM have now entered into discussions to have its option terminated which includes a return of funds paid by Easton.\n Canada's medical marijuana industry has been extremely slow to grant new cultivators and growers licenses since the new MMPR system came into effect on April 1st of 2014. Since then there have been various regulatory changes where Health Canada has added new requirements including enhanced security measures and similar. The requirements with the MMPR program are considered more stringent compared to requirements within various states in the United States which have added to the delays. Easton expects to disclose pertinent updates in respect to all of its medical marijuana initiatives upon the termination of its option with MDRM.\n About Easton Pharmaceuticals\n Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries such as medical marijuana. The Company previously developed and owned an FDA approved wound-healing drug and currently owns topically delivered drugs to treat cancer and other conditions that are all in various stages of development and approval. Easton has entered into a 50 / 50 revenue sharing agreement towards being the exclusive distributor in Mexico for world-patented women's diagnostic products. Easton has completed an...