The Letter Of Intent was signed with another public company listed on the OTCQB exchange.
Easton has engaged an attorney who for the past few days and moving forward will perform due diligence on the company and most importantly the licenses this company has claimed it has rights to through a private Colorado grower in the state of Colorado.
The LOI calls for a joint venture where both Easton and the other company would either purchase an interest in or finance the operations in the private Colorado grower.
Any closing is contingent on the satisfaction of the due diligence by Easton’s attorney and its negotiations with the other company’s attorney or representatives.
Easton Pharmaceuticals, or any other company or principles not having residence in the state of Colorado for more than 2 years, cannot entirely own all the assets in any medical marijuana companies within the state of Colorado. Any negotiations must satisfy these requirements. No time frames have yet been set.
Easton also wishes to clarify the misinformation regarding its Canadian medical marijuana initiatives. Although the company has still not signed a final agreement regarding any of its Canadian medical marijuana initiatives which is as a result of various reasons it is currently unable to disclose, this by no means signifies that it has ended any negotiations with any other companies previously disclosed.
No other companies including current growers in B.C. have closed any transactions with any other companies and still maintain discussions with Easton Pharmaceuticals which included a personal meeting with all principals in the past few days.
This also includes negotiations with another public company listed on the OTCQB exchange where another joint venture is being contemplated towards medical marijuana assets situated in Ontario Canada.
Easton’s product ‘VIORRA’ is an over-the-counter aid for the treatment to restore and improve vaginal moisture and elasticity which is believed to have a positive effect on women’s sexual desire and arousal, FSAD (Female Sexual Arousal Disorder); the world market for these female conditions is conservatively estimated to be in the billions.
VIORRA is a topical, daily-use product classified by the FDA as containing Generally Recognized as Safe ingredients.