Eve & Co Announces Third German Supply Agreement for Immediate Release
06 September 2019 - 10:24PM
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 third binding,
non-exclusive supply agreement for the sale of dried cannabis to a
German importer and distributor.
The supply agreement is for an initial term of
two years and is automatically renewable for 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 25 kilograms of dried cannabis per month for
the first two months and a minimum of 100 kilograms per month for
the next 22 months. The Company expects to commence shipments
subsequent to the anticipated approval by Health Canada of the
Company’s 780,000 square foot greenhouse
expansion.
“We are very excited to announce our third
German supply agreement and to further expand our supply
opportunities in Germany. With regulatory approval of our
greenhouse expansion expected before the end of the year, we
anticipate being able to meet our supply commitments and to expand
our sales channels in Germany," 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 Strathroy, Ontario. Eve & Co has
completed construction of an additional 780,000 sq. ft. expansion,
bringing Eve & Co’s total 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, opportunities for growth, 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 management’s discussion and analysis for
the two and fourteen months ended December 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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