Easton Announces Status Updates on its $2,600,000 Framing Contract to Construct 150 Homes, Including New Additional Project
01/11/2019 | 02:51pm EDT
TORONTO, ON, Jan. 11, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Easton Pharmaceuticals Inc. (OTC: EAPH) provides operational update on its $2,600,000 CDN framing contract to build approximately 150 homes just outside of Toronto, Ontario including possible new project.
Easton recently announced that it has entered into a $2,600,000 CDN framing contract and has commenced work on the framing of approximately 150 homes with a well-known prominent regional builder.
Easton can disclose that it has collected approximately $150,000 CDN in payments over the past 30 day period since operations commenced. Easton’s Director, Vince Demasi, who is also the operational manager for the project, stated that the good weather conditions up to now and the well-organized crew, have resulted in no delays with our building operations. Since the framing is ahead of schedule and all 30 full time employees being very productive and allowing East, has been presented with another possible building contract to construct up to 200 residential units in Welland, Ontario, Canada.
Additional details are expected to be made available in the next few weeks on a possible lucrative $30,000,000 building project in addition to its recently announced Cobourg, Ontario development project to build 42 residential units over the next 3 years, with the first phase approved and ready for 6 units in an existing mansion.
Easton is currently in the process of completing and filing its September 31, 2018 quarterly financial Statements and its December 31, 2018 year-end financial Statements following which, it will initiate an audit through auditors the Company has selected.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. The Company previously developed and owned an FDA-approved wound-healing medical drug and currently owns topically delivered drugs to treat cancer and other therapeutic products to treat various conditions that are all in various stages of development and approval. Easton, together with BMV Medica S.A. own the exclusive distribution rights in Mexico and Latin America for two patented women's diagnostic products and a novel natural treatment for Bacterial Vaginosis, which they have sub-licensed to Bayer and Gedeon Richter. In addition, a generic cancer drugs line is being developed for sale in Mexico. 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 other drugs. As part of its strategic growth plan, the Company will be entering new lucrative market segments globally, including Gaming, Real Estate and Hospitality, among others.
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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 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.
Evan Karras / CEO / President