Activity in Eastgate Biotech Corp (OTCMKTS:ETBI) picked up in a big way this week following news that the company had engaged an advisor to assist with getting listed in Canada.
It follows a period of weeks wherein the stock had taken a pretty significant beating, but the announcement seems to have propelled it to a rebound, with volume also increasing significantly.
A Canadian firm, Gunpowder Capital Corp., (CSE: GPC) announced this week that it had entered into various agreements with Eastgate Biotech Corp (OTCMKTS:ETBI). Eastgate has retained GPC to act as a financial advisor to Eastgate, and to assist Eastgate in listing its common shares onto a Canadian stock exchange, including assisting Eastgate with various administrative and compliance matters related to the going public process.
As compensation to GPC for its services, Eastgate will pay GPC Fifteen Thousand Dollars (“$15,000.00”) CDN. Post listing onto a Canadian exchange, Eastgate will retain GPC for a minimum of six months to serve as a capital markets advisor and received a fee of Five Thousand Dollars (“$5,000.00”) CDN per month. Furthermore, post listing onto a Canadian exchange, Eastgate will also issue to GPC, 8% of Eastgate’s outstanding common shares.
GPC has also agreed to lend Eastgate Seventy-Eight Thousand Dollars (“$78,000.00”) USD at a rate of fourteen percent (14%) per annum. The loan is secured by a personal guarantee by an officer of Eastgate and is convertible at anytime before maturity into common shares of Eastgate at a price of $0.05 per share. Eastgate will also issue One Million (“1,000,000”) common stock purchase warrants to GPC. The warrants shall have a life of three years, and allow for the purchase of 1,000,000 Eastgate common shares at a price of $0.05 per share. (Source: Accesswire)
The development comes just week following another key announcement. The company reported that it had entered into a Joint Venture with AC Nova Technologies Inc. (ATI Pharma). The synergy of talents and products means that these two start-up emerging pharmaceutical companies will now provide expertise starting with formulation development to clinical research and product launch. Both EastGate Biotech and ATI Pharma are focused on products that although naturally occurring are selected based on extensive evidence-based research in both animals and humans. The focus of their therapies is to slow down the onset of aging by maintaining cellular health of key systems.
These two companies believe that aging is primarily a result of vascular, inflammatory and bone degeneration and by providing products and treatments focused on these three systems both the quality and quantity of life will be extended.
“The Joint Venture with ATI Pharma is synergistic to our rejuvenation program,” says Anna Gluskin, EastGate’s CEO. “The ATI Pharma product line complements EastGate’s glucose management products including natural and pharmaceutical developments along with the state-of-the art treatments offered by our recent acquisition OMNI Surgery + Anti-Aging Centre.” “We look forward to maximizing our wholistic approach to anti-aging,” concluded Gluskin.
According to ATI Pharma’s CEO Carmella Angus, “Our main focus within the Joint Venture is to provide products that complement therapies that slow the symptoms of aging by providing a balance to glucose metabolism, cardiovascular health, bone health as well as hormone balance.” “We are ready for an aggressive launch and commercialization of our key products,” (Source: Marketwired)
We’ll definitely want to keep a watch over ETBI, which has been active in the month of April, especially now with the major spike in activity that the stock is seeing off of its recent bottom. Want to keep up with developments on ETBI? Stay locked on StreetRegister.com and be sure you’re signed up for our 100% free smallcap newsletter. Simply enter your primary active email address in the box below! Subscribe now!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in ETBI stock, short or long.