Easton Pharmaceuticals Reaches Agreement to Take Over Hotel and $17,000,000 Real Estate Asset in Heart of Toronto, Canada

TORONTO, ON, Sept. 27, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Easton Pharmaceuticals Inc. (OTC: EAPH) is pleased to announce that it has reached an agreement on the main terms to take over an operating boutique hotel and real estate asset in the heart of Toronto, Ontario, Canada. 

After several weeks of negotiations, Easton has reached a consensus on the main terms that will form the final agreement whereby Easton will take ownership of an operating Boutique Hotel located on Bay Street in the heart of Toronto’s Financial District and the City’s main tourist attractions. Once the transaction is completed, Easton has plans in place that will increase revenues to over $8,000,000 per year, which it intends to implement shortly after closing. The property currently has a value in excess of $17,000,000 CDN and its coveted location makes it a prime re-development opportunity for residential condominiums / office space and hotel at some point in the future. Easton expects to have a final agreement signed by October 16, 2018 or shortly thereafter notwithstanding any unforeseen delays on other minor terms still to be agreed to. Full details on property location and business will be made available shortly or once the transaction is completed and approved.

In other news, Easton is in the final stages of negotiations to be the majority partner or participate in another operating Casino in the United States that currently has existing revenues and profits. Easton hopes to finalize and close on both the Toronto Hotel and the operating casino in the near term while it also negotiates on other similar potential transactions in Europe brought forward through Easton CEO, Mr. Evan Karras and his extensive relationships. Updates on both projects will be disclosed as they are made available and approved for release.

In other news, a court hearing on the Georgina property permit dispute with the township of Georgina, located in Ontario, Canada was adjourned by the township on September 13th with a new court date to soon be set. Easton and its partner Alliance (o/s 1124123 Ontario Inc.) jointly own a 135-acre property which is currently zoned for aggregate and recycling, but the township stopped its soil operations which started in June of this year, following a court order. Easton / Alliance believe it has a strong argument and will seek damages in the millions of dollars for lost revenues. Updates will be disclosed once they are available and approved for release.

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 and Cannabidiol extracts. 

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.

For More Information On Easton and Affiliated and Partner Company's Visit:

http://www.eastonpharmaceuticalsinc.com

http://finance.yahoo.com/q?s=eaph 

https://twitter.com/eastonpharma

Safe Harbor

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.

CONTACT INFORMATION

Evan Karras  

Tel: +1(416) 619-0291 

Tel: +1(347) 284-0192 

Email: [email protected]