Eve & Co Announces Conversion Of Remaining Convertible Debentures, Strengthens Balance Sheet
29 March 2019 - 11:45PM
Eve & Co Incorporated (“Eve & Co” or the “Company”) (TSX-V:
EVE; OTCQB: EEVVF) is pleased to announce that the remaining
$4,000,000 principal amount of senior unsecured convertible
debentures of the initial $10,000,000 principal amount of
debentures issued by the Company in June 2018 has now been
converted into common shares of the Company. A total of
13,333,333 common shares in the capital of the Company have been
issued to the holder of such debentures in accordance with the
terms of the debentures.
“We are very thankful for the support of our
convertible debenture holder. This conversion strengthens our
balance sheet and provides us with the flexibility to prioritize
resource allocation to operating activities as the Company makes
headway on its business development efforts and Phase 2 expansion
project.” stated Melinda Rombouts, CEO of Eve & Co.
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 Company’s website can be visited at
www.evecannabis.ca
Neither the TSX Venture Exchange nor its
regulation services provider (as that term is defined in the
policies of the TSX Venture Exchange) 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 terms of the
credit facilities and the Company’s related expansion and
construction plans, future, strategy, plans, objectives, goals and
targets, 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 management’s discussion and analysis for
the three and twelve months ended October 31, 2018 which is
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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