|By Marketwired .||
|July 8, 2014 01:30 PM EDT||
TORONTO, ON -- (Marketwired) -- 07/08/14 -- Easton Pharmaceuticals Inc. (OTC: EAPH) - announces that it has advanced funds and closed on an agreement to invest and purchase an ownership interest in AMFIL Technologies Inc. and The mPact -GROzone Antimicrobial Systems Line of Products.
The agreement includes an option to purchase warrants allowing Easton to purchase an additional ownership interest up to 32.5% of AMFIL. The mPact -GROzone Antimicrobial Systems is an exclusive application geared towards the Medical Marijuana Industry and other related legal marijuana growing/processing facilities. The mPact -GROzone Antimicrobial Systems is derived from the existing mPact technology which is mainly focused towards the food and beverage industries with successfully installed and performing units cross - sectionally in the Food/Beverage and Fresh Produce Industries, e.g. Sysco Foods, Nestles, Sun Pacific, Thornbury Apple Cidery, Golden Town Apple, etc. A growing niche market has now been created with the burgeoning Medical Marijuana industry in both the United States and Canada as well as other parts of the world.
Easton Pharmaceuticals has advanced funds and acquired an initial minority ownership interest in AMFIL and its mPact -GROzone Antimicrobial System which has been designed and is currently in the process of being integrated into a commercially licensed, state of the art medical marijuana grow facility in Colorado. This facility is one of Colorado's premier Medical Marijuana organizations with an 18,000 sq. ft. indoor hydroponic growing area as well as a 26,000 sq. ft. greenhouse facility that is currently under expansion to 56,000 sq. ft. with a completion date in July 2014. Development is also under way for one of the largest indoor cultivation facilities in Colorado, boasting more than 200,000 square feet of hydroponic growing area. This company also has four retail outlets. A GROzone 60 Antimicrobial System is currently being assembled for installation in this state-of-the-art facility to help meet and exceed the expectations and regulations imposed on growers and the end product that is being distributed to their patients.
As the medical marijuana industry expands, the rules and regulations will naturally become more stringent and overwhelming to growers.
"Producers of marijuana for medical purposes are subject to compliance and enforcement measures similar to those in place for other producers of controlled substances. They must meet strict security, control and reporting requirements, and they are regularly inspected," said Health Canada. (http://www.huffingtonpost.ca/2014/04/22/medical-marijuana-recall_n_5189032.html)
"For the second time in less than a month, Health Canada is issuing a recall of medical marijuana. Clearview, Ont.-based Peace Naturals Project issued a voluntary recall for a batch of its prescription pot (k-farms lot:K1-KFM-001-14) after it tested positive for bacteria outside the acceptable limits, Health Canada said." (http://www.torontosun.com/2014/05/11/health-canada-recalls-medical-marijuana-for-2nd-time-in-a-month)
In April, "Cannabis inspectors visited the Greenleaf production site and "identified issues with processes that affect quality control, good production practices and oversight -- this includes residues from use of unregistered pesticides, unsanitary production conditions, concerns with testing standards and/or control of plant materials." (http://news.nationalpost.com/2014/04/23/purple-kush-recall-another-road-bump-after-new-medical-marijuana-rules-rolled-out/)
The mPact -GROzone Antimicrobial Systems product line will satisfy all the antimicrobial needs of a grow environment to be a fully sanitized and legally producing medical marijuana facility.
The mPact -GROzone Antimicrobial Systems product line eliminates the problems encountered in medicinal marijuana and all types of grow facilities in general by providing a sanitization unit that is a combination of two ozone technologies. It is a multi-functional system which eliminates 99.9% of airborne pathogens, mold and pests such as aphids, whiteflies and spider mites that develop in medical marijuana grow facilities. It is also allows for constant and regulated PPM's of ozone to filter and purify the reservoir and liquid solutions used in growing mediums to prevent algae, bacterial culture and mold growth. The system, in general will also provide multi-surface cleaning to equipment, walls and floors, airborne pathogens and pests; as well as producing biologically stable water that does not promote excessive bacterial growth and regrowth in the distribution system feeding the growing medium. This oxygen based 'green' technology is an excellent environmentally friendly alternative and replacement to the harmful and carcinogenic chemicals currently being used in the industry and by oxygenating the water and delivering the regulated PPM doses in the water supply, the overall health, well-being and yield of the plant should be noticeable compared to similar plants not utilizing the system. It is expected that as an added by-product of installing the mPact -GROzone Antimicrobial Systems, room temperature will also be kept slightly cooler alleviating stress off the fans, hepa filters and ventilation systems, increased odor control, there will be reduced CO2 usage and water consumption will be lowered.
Roger Mortimer, President of "Amfil Technologies Inc. commented, "We are very excited about the future of the GROzone product line as well as the benefits and peace of mind the product will bring to legally producing grow facilities worldwide. As the industry gets more and more regulated, we expect medicinal marijuana and medicinal marijuana related products to continue moving towards food, beverage and drug industry standards." Mr. Mortimer further stated, "As more facilities experience recalled harvests and as the GROzone line of products becomes more and more known and accepted within the industry, facilities and customers of the facilities utilizing the GROzone units should be assured that the product they are receiving is of the highest calibre and should pass the most rigorous testing procedures. To date the interest in the product has been positive and the company will do everything in its power to meet and exceed all orders and expectations of the product."
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company involved in various pharmaceutical sectors that owns, designs, develops, and markets topically-delivered drugs and therapeutic / cosmetic healthcare products, focused on cancer and other health issues related towards male and female sexual dysfunction, wound healing, pain, motion sickness, scar and stretch marks, cellulite, varicose veins and other conditions. The company is also endeavoring to enter other potentially lucrative industries such as medical marijuana. The company's gel formulation is thought to be an innovative and unique transdermal delivery system. Easton Pharmaceuticals' product "VIORRA" is an over-the-counter, topical daily use product and 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.
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This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding of discussion, the words "anticipate," "pleased," "plan," "confident that," "believe," "expect," "possible" or "intent to" and similar conditional expressions 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. There are no guarantees or assurances that any proposals, initiatives or negotiations will result in what the company had originally intended. Any investment made into Easton Pharmaceuticals would be classified as speculative and risky. 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.
Easton Pharmaceuticals Inc.
Tel: +1(416) 619-0291
Tel: +1(347) 284-0192
Email: [email protected]
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