Eve & Co Announces Health Canada Approval of 780,000 Square Foot Flowering Room
17 December 2019 - 12:30AM
Eve & Co Incorporated (“
Eve &
Co” or the “
Company”) (
TSX-V:
EVE; OTCQX: EEVVF) is pleased to announce that Health
Canada has approved an amendment to the licence of its wholly-owned
subsidiary Natural MedCo Ltd. permitting the use of Flowering Room
3 as a grow area. This flowering room is the new 780,000 square
foot expansion completed in August that brings together best in
class greenhouse technology, components, engineering and design.
The licensing of Flowering Room 3 as a grow area enables the
Company to continue its production ramp-up to supply cannabis
markets in Canada and abroad.
“We are very pleased to have received Health
Canada’s approval for our new 780,000 square foot expansion as an
additional grow area. This is a significant milestone in the path
forward for Eve & Co and is the result of the hard work of our
very talented team. Now that Flowering Room 3 is licensed, we
intend to ramp up production over the next two quarters which will
give us the ability to become a significant supplier to the
Canadian and global cannabis markets,” said Melinda Rombouts,
President and CEO of Eve & Co.
Flowering Room 3 includes leading greenhouse
design features for automation, climate regulation and lighting
design. Eve & Co engaged experienced and knowledgeable
consultants, engineers, and greenhouse construction and supply
experts in the design and construction of this expansion to
optimize the experience of Eve & Co’s management in greenhouse
systems to produce yield optimization, quality and controls.
Additionally, the Company has integrated an
advanced automated fertilization and irrigation system which
recirculates and accurately monitors plant nutrients. The
Company’s facility has a triple boiler system that uses dual fuel
oil and natural gas supply to ensure fuel redundancy and continuous
environmental controls. The greenhouse also features the latest CO2
technology to provide for monitoring and optimizing CO2 levels for
plant growth. Every design feature takes into consideration strict
Health Canada requirements for Good Production Practices and is in
compliance with the Company’s established standard operating
procedures.
The Company anticipates production capacity will
increase to approximately 50,000 kgs annually(1), allowing Eve
& Co to introduce a number of value-added products to the
Canadian market under its female-focused “Eve” brand while
continuing to build and execute on its international program.
Note:
(1) This is forward-looking information and is
based on a number of assumptions. See “Notice regarding forward
looking statements”.
ABOUT EVE & CO INCORPORATED
Eve & Co, through its wholly-owned
subsidiary Natural MedCo Ltd., holds cultivation and processing
licences under the Cannabis Act (Canada) for the
production and sale of various cannabis products, including dried
cannabis, cannabis plants and extraction of cannabis oil. Natural
MedCo Ltd. was Canada’s first female-founded licensed producer of
medicinal marijuana and received its cultivation licence from
Health Canada in 2016. Eve & Co is led by a team of
agricultural experts and has a licensed 1,000,000 square foot
greenhouse located in Strathroy, Ontario.
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.
Notice regarding forward looking
statements:
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
expected timeline for production in Flowering Room 3, the size of
the increase in production, licensing for and sales to global
cannabis markets, the introduction of new products, opportunities
for growth, 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 nine month periods ended
September 30, 2019 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 Rombouts President and Chief Executive Officer Eve &
Co Incorporated Telephone: (855) 628-6337
Landon Roedding Chief Financial Officer Eve & Co
Incorporated Telephone: (855) 628-6337
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