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Easton Pharmaceuticals Inc. Suspends All Potentially Dilutive Financing as a Direct Result of Negotiations With a Major California Based Medical Marijuana Grow-Op
Easton Pharmaceuticals Inc. Suspends All Potentially Dilutive Financing as a Direct Result of Negotiations With a Major California Based Medical Marijuana Grow-Op.
About this update from Easton Pharmaceuticals Inc
[{"type":"text","content":"\n \n \n Easton Pharmaceuticals Inc. Suspends All Potentially Dilutive Financing as a Direct Result of Negotiations With a Major California Based Medical Marijuana Grow-Op\n \n \nEaston Pharmaceuticals Inc. Suspends All Potentially Dilutive Financing as a Direct Result of Negotiations With a Major California Based Medical Marijuana Grow-Op\n \n TORONTO, ON--(Marketwired - Dec 22, 2014) - Easton Pharmaceuticals Inc. (OTC PINK: EAPH) announces it has suspended all types of financings considered more dilutionary compared to other financing options currently available.\n This decision was made primarily as a result of negotiations Easton is having with a large medical marijuana grower who own multiple existing licenses and medical marijuana grow operations located in the state of California. Easton Management has requested that more transparency be provided to shareholders and investors than was previously the case with other previously announced medical marijuana initiatives. The California company has made certain demands of Easton including the recently announced audit of its financial statements, re-evaluation of its contractors, more detailed information regarding its Canadian medical marijuana initiative within the country of Canada, and to provide details and access to its joint venture relationship with AMFIL Technologies and their groZone system. The grower has implied availability of financing for the transactions at a premium to current market rates and that it be more in line with the 200 day moving average for the stock. The California Grower has also disclosed a high level of interest in becoming an equity stakeholder in Easton.\n Easton anticipates making a formal announcement once some remaining minor details are sorted out. An exact timeline is subject to negotiations with another company.\n The company has in the past year been conservative with how much cash it has expended into projects and has retained the majority of the $1,000,000 in financing obtained in 2014. The only circumstance where immediate additional cash would be required would be to execute on the Canadian medical marijuana grow operation. Easton has received a previous financing commitment exclusively towards this venture from a private accredited investor.\n Market conditions and sentiment in the Medical Marijuana Sector are currently at a more de...