Easton Pharmaceuticals Executes Letter of Intent and Provides Details on Green Patient Network's Business Plan
Marketwired
TORONTO, ON--(Marketwired - Dec 12, 2014) - Easton Pharmaceuticals (OTC: EAPH) announces it has executed a letter of intent with Canadian Medical Marijuana Club Inc and initiated negotiations to enter the Legal Medical Marijuana prescription access business.
Easton is negotiating a first of its kind in the Canadian medical marijuana industry by having Green Patient Network offered to the public. Green Patient Network should see synergies that present itself from Easton's Vaporizer customers and the overlap in users which can directly help reduce current patient acquisition costs. Any prospective patient wishing to become a legal Canadian Medical Marijuana Card holder and member can find great value in the services offered by becoming a member of Medical Marijuana Club / Green Patient Network(GPN). Current Market targeted scope will include the major metro area's in the Canadian marketplace (Vancouver, Calgary and Toronto). In march 2014 there were approximately 40,000 Legal Medical Marijuana Prescription holders in Canada. (Source Health Canada) Currently it is believed that number has increased to 60,000-70,000 patients. Growth in the patient population is being hampered as potential marijuana patients find it is still not an open acceptable subject to discuss their needs with their healthcare provider. Some MMPR un-informed doctors will not easily prescribe Medical Marijuana to their patients due to undue scrutiny placed on them by Health Canada, the RCMP and other regulators.
These underserved patients who suffer from Autism, Epilepsy, Dementia, Diabetes, Glaucoma, Tourette Syndrome, Cancer, PTSD and other ailments are in search of services such as the one being negotiated as a supplement to their current plan of care.
What the Green Patient Network Service Provides :
- Provides Canadian patients looking to obtain legal access with specialized online physician consultations via tele health.
- Connects underserved patients with a trusted network of doctors who advocate working with Licensed Providers within the framework of Canada's MMPR network.
- Marijuana Licensed Provider prescription management and Marijuana batch number tracking services. This removes the stress of patients having to worry about losing their prescription or having to monitor if any recall's are made by their LP provider.
- Nursing support line for any patients/ Members who have an adverse reaction to any Marijuana related product.
- Pre Qualification Questionnaire that helps make the entire process easy to understand for the patient.
Costs of this service: membership dues for a single are $375 annually or $150 initial and $30 each monthly subscription model.
Easton Pharmaceuticals Plans to provide updates on these fast moving negotiations in the Legal Medical Marijuana prescription access business within the next 7 to 15 days.. These negotiations are in no way detracting from other negotiations that are being done in the Medical Marijuana space in the United States or other business segments which we plan to divulge within the next week to 10 days.
In other news Easton Pharmaceuticals plans to update its shareholders on prior partnerships made and progress made with AMFIL Technologies and its GrowZone joint venture. Its current adoption has been proceeding well and revenue recognition is slated for this quarter on shipments made within the second Quarter of 2015.
In other news Easton and / or its representatives plans on attending the upcoming Emerald Cup.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company involved in various pharmaceutical sectors and others industries such as medical marijuana. The Company previously owned an FDA approved wound healing drug and currently owns topically-delivered drugs and therapeutic / cosmetic healthcare products focused on cancer and other health issues geared towards female sexual dysfunction, wound healing, pain, motion sickness and other conditions that are all in various stages of development. The company has ventured into the potentially lucrative medical marijuana industry through an investment into AMFIL Technologies and their groZONE anti-bacterial system and the exclusive option to purchase up to 49% in a medical marijuana grow-op business / facility which has received a letter to build from Health Canada. 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 Cannabidiol extracts.
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.
