TORONTO, ON–(Marketwired – Mar 11, 2014) – Easton Pharmaceuticals Inc. (OTC: EAPH), a specialty pharmaceutical company that owns, designs, develops, and markets an array of topically-delivered drugs and therapeutic / cosmetic healthcare products, today announces it nearing its limit on financing under regulation offerings.
The company is now moving towards a Reg A filing to raise an amount up to $5,000,000 per year from an accredited investor on a best efforts basis. In other events, Easton has closed on an agreement for Medical Marijuana.
Under the current financing the company has been receiving, it is only allowed to raise up to $1,000,000 per year which was achieved sooner than expected. The company, in order to fulfill its financing needs is now moving forward with a Reg A filing with the securities and exchange commission to raise an amount up to $5,000,000 per year with an accredited investor on a best efforts basis.
These funds are required for its various initiatives, which includes its medical marijuana program and its other line of therapeutic and healthcare products. Easton Pharmaceuticals announces it has come to terms on its negotiations with one of its proposed medical marijuana partners. The companies are now in the process of drafting a final agreement. Complete details to be disclosed on a subsequent press release to be announced when fully completed and executed.