TORONTO, Sept. 06, 2019 (GLOBE NEWSWIRE) — Eve & Co Incorporated (the “Company” or “Eve & Co”) (TSXV: EVE OTCQB: EEVVF) is pleased to announce that its wholly-owned subsidiary All-natural MedCo Ltd. has entered into a third binding, non-exclusive provide agreement for the sale of dried cannabis to a German importer and distributor.
The provide 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 finish of the initial or renewal term. The German distributor has agreed to buy a minimum of 25 kilograms of dried cannabis per month for the initial two months and a minimum of 100 kilograms per month for the subsequent 22 months. The Firm expects to commence shipments subsequent to the anticipated approval by Wellness Canada of the Company’s 780,000 square foot greenhouse expansion.
“We are really excited to announce our third German provide agreement and to additional expand our provide possibilities in Germany. With regulatory approval of our greenhouse expansion anticipated just before the finish of the year, we anticipate getting capable to meet our provide commitments and to expand our sales channels in Germany,” stated Melinda Rombouts, President and Chief Executive Officer of Eve & Co.
The buy and sale of dried cannabis beneath the provide agreement are topic to numerous circumstances precedent, such as receipt of all requisite regulatory approvals, such as applicable Canadian and Germany export and import authorizations.
ABOUT EVE & CO INCORPORATED
Eve & Co, by means of its wholly-owned subsidiary All-natural MedCo Ltd., holds cultivation and processing licenses beneath the Cannabis Act (Canada) for the production and sale of numerous cannabis solutions, such as dried cannabis, cannabis plants and cannabis oil. All-natural MedCo Ltd. was Canada’s initial female founded licensed producer of medicinal marijuana and received its cultivation license from Wellness Canada in 2016.
Eve & Co is led by a group of agricultural specialists and has a licenced 220,000 sq. ft. scalable greenhouse production facility positioned in Strathroy, Ontario. Eve & Co has completed building of an added 780,000 sq. ft. expansion, bringing Eve & Co’s total greenhouse capacity to 1,000,000 sq. ft.
The Company’s internet site can be visited at www.evecannabis.ca.
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Particular statements in this press release constitute forward-seeking facts. All statements other than statements of historical truth contained in this press release, such as, without the need of limitation, possibilities for development, future method, plans, objectives, targets and targets, potential to execute on its export sales and any statements preceded by, followed by or that include things like the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or equivalent expressions or the damaging thereof, are forward-seeking statements. These statements are not historical details but alternatively represent only the Company’s expectations, estimates and projections relating to future events. These statements are not guarantees of future functionality and involve assumptions, dangers and uncertainties that are hard to predict, such as these described in the Company’s management’s discussion and evaluation for the two and fourteen months ended December 31, 2018 which is obtainable on the Company’s SEDAR profile. Thus, actual final results may well differ materially from what is expressed, implied or forecasted in such forward-seeking statements. The forward-seeking facts and forward-seeking statements incorporated in this news release are produced as of the date of this news release. The Firm does not undertake an obligation to publicly update such forward-seeking facts or forward-seeking facts to reflect new facts, subsequent events or otherwise unless needed by applicable securities law.
For additional facts, please make contact with:
President and Chief Executive Officer
Eve & Co Incorporated
Phone: (855) 628-6337
Chief Economic Officer
Eve & Co Incorporated
Phone: (647) 473-4947