Eve & Co Announces German Supply Agreement
January 30 2019 - 9:15AM
Eve & Co Incorporated (the “Company” or “Eve & Co”) (TSXV:
EVE; OTCQB: EEVVF) is pleased to announce that its wholly-owned
subsidiary Natural MedCo Ltd. has entered into a binding
non-exclusive supply agreement for the sale of dried cannabis to an
established German importer and distributor of parapharmaceutical
and medicinal products.
The supply agreement is for an initial term of
three years and is automatically renewable for two subsequent
two-year terms unless otherwise terminated by the parties at the
end of the initial or renewal term. The German distributor
has agreed to purchase a minimum of 2,250 kilograms of dried
cannabis over the initial two year period and can increase the
amount ordered on the acceptance by Eve & Co. The parties
expect the first shipments to commence in Q1 2019.
“This agreement is an important milestone for us
in our expansion into international markets. We are very
pleased to be working with an established and reputable firm to
access the German market where pricing continues to be at a
substantial premium to local markets. We are excited to
continue to develop opportunities for Natural MedCo and the EVE
brand across multiple global markets," said Melinda Rombouts,
President and Chief Executive Officer of Eve & Co.
The purchase and sale of dried cannabis under
the supply agreement are subject to various conditions precedent,
including receipt of all requisite regulatory approvals, including
applicable Canadian and Germany export and import
authorizations.
ABOUT EVE & CO
INCORPORATED
Eve & Co, through its wholly-owned
subsidiary Natural MedCo Ltd., holds cultivation and processing
licenses under the Cannabis Act (Canada) for the production and
sale of various cannabis products, including dried cannabis,
cannabis plants and cannabis oil. Natural MedCo Ltd. was Canada’s
first female founded licensed producer of medicinal marijuana and
received its cultivation license from Health Canada in 2016.
Eve & Co is led by a team of agricultural
experts and has a licenced 220,000 sq. ft. scalable greenhouse
production facility located in Middlesex County, Ontario with 32
acres of adjacent land for future expansion. Eve & Co has
commenced construction of an additional 780,000 sq. ft. proposed
expansion, bringing Eve & Co’s total anticipated greenhouse
capacity to 1,000,000 sq. ft.
The TSXV has neither approved nor
disapproved the contents of this news release. Neither the TSXV nor
its Regulation Service Provider (as that term is defined in the
policies of the TSXV) accepts responsibility for the adequacy or
accuracy of this release.
Certain statements in this press release
constitute forward-looking information. All statements other than
statements of historical fact contained in this press release,
including, without limitation, those regarding the Company’s
780,000 sq. ft. expansion and funding therefor, future, strategy,
plans, objectives, goals and targets, ability to execute on its
export sales, and any statements preceded by, followed by or that
include the words “believe”, “expect”, “aim”, “intend”, “plan”,
“continue”, “will”, “may”, “would”, “anticipate”, “estimate”,
“forecast”, “predict”, “project”, “seek”, “should” or similar
expressions or the negative thereof, are forward-looking
statements. These statements are not historical facts but instead
represent only the Company’s expectations, estimates and
projections regarding future events. These statements are not
guarantees of future performance and involve assumptions, risks and
uncertainties that are difficult to predict, including those
described in the Company’s filing statement dated June 18, 2018 and
available on the Company’s SEDAR profile. Therefore, actual results
may differ materially from what is expressed, implied or forecasted
in such forward-looking statements. The forward-looking information
and forward-looking statements included in this news release are
made as of the date of this news release the Company does not
undertake an obligation to publicly update such forward-looking
information or forward-looking information to reflect new
information, subsequent events or otherwise unless required by
applicable securities law.
For further information, please
contact:
Melinda RomboutsPresident and Chief Executive OfficerEve & Co
IncorporatedTelephone: (855) 628-6337 |
|
Landon RoeddingChief Financial OfficerEve & Co
IncorporatedTelephone: (647) 473-4947 |
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