Easton Pharmaceuticals, Inc. (OTC Pink: EAPH) is engaged as a specialty pharmaceutical company, which focuses on a topical treatments and wound healing technology. Shares of the specialty pharmaceutical company are rallying 16.61% on Tuesday, April 11, 2017. Over the past month, Easton Pharmaceuticals, Inc. has seen volume of 4.69 million shares. However, volume of 11.63 million shares or dollar volume of $412,865, has already exchanged hands during early trading Tuesday.
Shares of Easton Pharmaceuticals, Inc. are climbing Tuesday, after the company announced that its acquisition of iBliss, Inc. has officially closed. iBliss, Inc., at its peak, earned $15 million annually, with profit margins of around 40%. Management continues to position for the revival of the new business unit. Here is the full press release detailing of the completed acquisition:
Easton Pharmaceuticals, Inc. Press Release:
TORONTO, ON–(Marketwired – Apr 11, 2017) – Easton Pharmaceuticals, Inc. ( OTC PINK : EAPH ) announces it has finalized all terms of the Acquisition Agreement to acquire revenue producing vaporizer, e-liquids manufacturer iBliss Inc., of Toronto, Ontario, whereas legal counsel will be quickly concluding the closing of the transaction.
After various delays and much negotiation, Easton Pharmaceuticals is pleased to announce that both Easton and iBliss have agreed to and finalized all terms of the Acquisition Agreement whereas Easton will acquire 100% of iBliss Inc. and its holding company from its subscribers in exchange for common restricted shares in Easton Pharmaceuticals. The subscribers of iBliss will conditionally receive restricted shares of Easton stock in exchange for 100% of the shares of iBliss Inc. based on sales milestones. The shares have been placed in escrow until other documents are executed and delivered, considered a formality. iBliss at its peak two years ago, maintained healthy sales of $15,000,000 but are once again on the rise and projected to again reach $15,000,000 due to new international distribution agreements recently executed.
In addition to its e-liquids and vaporizer business, principles of iBliss will lend much know how and expertise of the medical marijuana industry which has led to a determination that Easton / iBliss fully intend on applying for a medical marijuana LP license for the country of Canada. iBliss and Easton believe its LP License application for Canada will get quickly approved by Health Canada due to successful businesses and sales and the availability of financial capital. Canada’s federal liberal government is expected to announce the full legalization of recreational marijuana use for all of Canada, sometime in the next few weeks.
Complete details of the closing terms and additional business development updates on iBliss’s vaporizer, e-liquids and medical marijuana businesses are expected to be disclosed very shortly followed by regular updates.
Hung Tran, President of iBliss commented, “iBliss and its principles are pleased to have reached a final Acquisition Agreement with Easton Pharmaceuticals. We are excited to partner up and work with Easton’s management to continue growing our Vaporizer business and our consumer health products, paving the way for enhanced value and growth for all Easton shareholders.” Mr. Tran further stated, “iBliss has had tremendous growth over the past 3 years of being in business, which includes sales throughout North America and recently adding several international markets in Europe, the Middle East and Russia which has it on track to once again reach $15,000,000 in sales with profits margins in excess of 40%. iBliss possesses in house manufacturing of its own line of e-liquids products in a certified and regulated laboratory.”
For More Detailed Information On iBliss Visit:
About Easton Pharmaceuticals, Inc.
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 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 has partnered with BMV Medica SA de C.V. and together, own the exclusive distribution rights in Mexico and Latin America for patented women’s diagnostic and preventative care products from CommonSense Of Israel, along with two generic cancer drugs, Paclitaxel and Docetaxel from BioLyse Pharma of St. Catherine’s Ontario, Canada.
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 would be classified as speculative and 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.