EastGate Biotech Corp. signed a Memorandum of Understanding (MOU) with Genluiching Mining Corporation (Genluiching) and AAH International Associates Inc. Within the scope of the MOU, both parties, located in the Philippines, intend to invest between PHP 100,000,000 - PHP 300,000,000 (approximately $2 million to $5.8 million) either in full or in tranches. Similar to the recently announce BuPharco Joint Venture, Genluiching and AAH will pay for all expenses related to financing as well as the clinical trials, however, ETBI is expected to be the lead manager of the JV. The purpose of the investment is to expedite the early filing and processing of the EastGate's insulin mouth rinse for the local Philippines Health Association. The MOU will allow for the parties to reserve the right to set up, register jointly, either a joint venture (JV) and/or holding company in order to oversee, manage and define each Party's roles and responsibilities, while also stipulating the shares of the investment portfolio to include humanitarian type projects that will benefit the Filipino population. The establishment of the JV or management holding company with the investment could be completed by this summer.