TORONTO, ON--(Marketwired - Mar 15, 2017) - Easton Pharmaceuticals, Inc. (OTC PINK: EAPH) Provides update on its previous investment into AMFIL Technologies and their recent revenue generating business acquisitions and their AMFIL GROzone technology for the medical marijuana industry (OTC PINK: AMFE).
Easton Pharmaceuticals in 2014 completed an investment into AMFIL Technologies with an option to purchase additional equity. The investment was originally used to assist AMFIL in general expenses and towards developing the GROzone technology for the medical marijuana industry. Since the initial Easton investment in July of 2014, AMFIL has made significant strides with its business. AMFIL has over the past few months closed on revenue generating acquisitions including Snakes and Lagers Inc. and Interloc-Kings, both revenue generating acquisitions that in total generate in excess of $7 Million in sales. In addition, AMFIL has very recently announced that the GROzone 60 system has passed a product review by a USDA certifying agent to be used in organic agricultural production in California, Pennsylvania and surrounding states. The GROzone product line recently received a positive review from Pennsylvania Certified Organic allowing their clients to use the GROzone product line in organic production. Pennsylvania Certified Organic (PCO) reviews products for clients located in Pennsylvania and the surrounding states as well as for the CCOF, (California Certified Organic Farmers) and now allows the CCOF clients to use the GROzone product line as well. PCO confirmed that the GROzone product line complied with the National Organic Programs (NOP) regulations and the outcome was the receipt of a positive review.
Easton Pharmaceuticals and AMFIL Technologies are initiating discussions toward another possible investment into AMFIL Technologies by Easton pursuant to an agreement signed between Easton and AMFIL in July of 2014 and the resulting investment made into AMFIL at that time. These negotiations are concurrent with the negotiations for the proposed acquisition of iBliss Inc. and other opportunities which include a late stage proposal for a Medical Marijuana Project located in Jamaica. Due to the number of negotiations and initiatives on the table, it has resulted in various delays. A decision on one or more closings with detailed updates is expected to be made and announced shortly.
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Easton and its partner BMV Medica S.A. are nearing completion of its late stage negotiations with 2 multi-national pharmaceutical companies on a sub-licensing distribution agreement for 2 other women's diagnostic products which Easton / BMV hold licensing rights for in Mexico and other parts of Central and South America. AL-Sense, one of the 2 products, is an Amniotic Fluid Diagnostic Leak Test, which is a patented women's diagnostic product that is currently being sold in the United Kingdom, and has European Approval. It serves a huge market where the birth rate in Latin America is three times the birth rate of North America and most of Europe. The target market for BMV / Easton has a population exceeding 200 million people. Sales in Latin America for pharmaceutical and diagnostic products are expected to grow at a rate five times that of North America and Europe as a result of a much higher birthrate in the region including other factors. The second product Easton / BMV have received proposals for and currently in late stage negotiations is VS-Sense which is the same product Bayer Pharmaceuticals had licensed and launched recently in Europe under its brand Canestest, and Prestige Distribution in the US has launched under its brand Monistat, with multi-million dollars in sales.