Eve & Co Announces Completion of its 780,000 Square Foot Expansion; Becomes Operator of One of the World’s Largest Cannabis...
August 06 2019 - 7:45AM
Eve & Co Incorporated (“Eve & Co” or the “Company”) (TSX-V:
EVE; OTCQX: EEVVF) is thrilled to announce that it has completed
construction of its 780,000 square foot hybrid greenhouse expansion
located in Southwestern Ontario. The expansion is situated on the
same property as the Company’s currently 220,000 square foot
licensed hybrid greenhouse.
The expansion includes leading edge, 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 some of the most 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 in class infrastructure for a
hybrid greenhouse with yield optimization and
control.
“We could not be happier to announce the
much-anticipated completion of construction for our state of the
art 780,000 square foot greenhouse. At just over a total of one
million square feet, our facility is now one of the largest
cannabis growing facilities in the world and will enable us to be a
significant supplier to the Canadian and world cannabis market,”
said Melinda Rombouts, President and Chief Executive Officer of
Eve. “This expansion brings together the best in class greenhouse
technology, components, engineering and design from the leading
manufacturer of greenhouse systems in The Netherlands and
greenhouse construction company in Canada. This greenhouse is
the first of its kind in Canada. It includes unique design
components designed specifically to augment cannabis growth,
including a fully integrated micro pore netting to maintain clean
room requirements and fully continuous roof vents to optimize
environmental conditions. To give some perspective of the enormity
of this project, installation included 135 km of heating pipe,
88 km of growing support troughs and approximately 300,000 plant
irrigation drippers. We are very pleased that the project was
completed on target and wish to extend our appreciation to
Universal Fabrication and BOM Group for their outstanding project
delivery.”
With this expansion, the Company will be able to
take advantage of the on-site supply of clean, natural,
laboratory-tested groundwater. Additionally, the Company has
added an advanced automated fertilization and irrigation system
which recirculates and accurately monitors plant nutrients for
optimization and environmental compliance. The triple boiler
system with dual fuel oil and natural gas will ensure proper
continuous heating and the latest CO2 scrubber technology provides
for the CO2 to be fully monitored and injected for optimal plant
growth. Every design feature takes into consideration strict
Health Canada requirements for Good Production Practices, adherence
to cannabis Regulations and established Standard Operating
Procedures to enable the Company to operate at pharmaceutical clean
room control levels.
The anticipated increase in production capacity of
50,000 kgs annually will allow 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 wholesale program.
In recognition of this significant milestone, the
Company will invite staff, shareholders, local government,
construction crews and other stakeholders to join them for a Ribbon
Cutting and Open House in mid September before the expansion is
closed in anticipation of Health Canada licensing.
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, those regarding the Company’s expansion and
construction plans and the expected timing of completion,
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 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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