Eve & Co Provides Update on Phase 2 Expansion
December 03 2018 - 7:40AM
Eve & Co Incorporated (TSX-V: EVE) (“Eve & Co” or the
“Company”) is pleased to provide an update on its 780,000 square
foot greenhouse expansion.
The construction of the Company’s greenhouse
expansion has seen recent significant advancement after commencing
this past July. The in-ground infrastructure has been
completed which included the movement of a municipal drain for land
usage maximization as well as additional substructure to ensure
compliance with municipal zoning and strict adherence to Ministry
of Environment requirements. Significant rainfall in our area
had caused a slight delay but the expansion is well underway with
footings installed and the posts and core structure being
erected. The expansion has been designed to include state of
the art, scientifically proven greenhouse design features for full
climate and automation control, auxiliary lighting to maximize
yield and total black-out curtains for effective flowering
transition. Eve & Co engaged the recognized experienced
and knowledgeable consultants, engineers, greenhouse construction
and supply experts in the design and fabrication of this expansion
while taking advantage of the experience of Eve & Co’s
management in greenhouse systems to adopt the best infrastructure
for a hybrid greenhouse with yield optimization and
control.
With this expansion, the Company will be able to take advantage of
the on-site supply of clean, natural, laboratory-tested groundwater
and has added an advanced automated fertilization and irrigation
system which recirculates and accurately monitors plant nutrients
for optimization and environmental compliance. CO2 will be
fully monitored and injected for optimal plant growth using the
latest CO2 scrubber technology. Every design feature takes
into consideration strict Health Canada requirements for Good
Production Practices, adherence to Cannabis Regulations and
established Standard Operating Procedures. For example, the
fully-enclosed plant support trough system allows for full
sanitization and Health Canada adherence and will allow the Company
to operate at pharmaceutical clean room control levels. Eve
& Co’s advantage is the management’s vast knowledge and
experience of greenhouse design and operations for an advanced,
highest-yielding system.
The Company expects the expansion to be
completed during Q3 2019.
In addition, the Company has announced Jonathan
Pollack has resigned from Eve & Co’s board of directors.
The Company is currently in discussions with candidates to expand
the board’s expertise that is consistent with the development of
its female-focused brand.
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 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 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 an
additional 780,000 sq. ft. expansion, bringing Eve & Co’s total
anticipated greenhouse capacity to 1,000,000 sq. ft.
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 Company’s
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 months ended July
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 |
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Landon
RoeddingChief Financial OfficerTelephone: (647) 473-4947 |
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