Eve & Co Announces Exclusive LOI with Colio Estate Wines
November 22 2019 - 7:53AM
Eve & Co Incorporated (“Eve & Co” or the “Company”) (TSX-V:
EVE; OTCQX: EEVVF) is pleased to announce that its wholly-owned
subsidiary, Natural MedCo Ltd., has entered into an exclusive
letter of intent (the “LOI”) with Colio Estate Wines, one of
Canada’s leading wineries and the company behind the top-selling
domestic wine flavoured beverage brand, Girls’ Night Out1.
The LOI contemplates developing a premium cannabis-infused
beverage for inclusion in Eve & Co’s consumer packaged goods
launch and entering into a license agreement for the Girls’ Night
Out brand within 60 days. The term of the proposed license
agreement is for an initial five years with a five year option in
favour of Natural MedCo and contemplates licensing royalties. The
Company anticipates distributing a cannabis-infused beverage to
enter the adult-use market in 2020.
“We are thrilled to be working with Colio Estate
Wines and the wonderful team behind the Girls’ Night Out brand.
We’ve been working diligently with their team for quite some time.
Colio Estate Wines has proven to be an excellent partner in
developing a beverage offering to launch into the Canadian
adult-use cannabis market and aligns very well with our
female-oriented vision,” said Melinda Rombouts, President and Chief
Executive Officer of Eve & Co.
“It’s been a pleasure working with Eve & Co
as we are like-minded in our focus and culture and share the same
corporate values and goals. We look forward to further
collaboration with their team on this project and in this emerging
sector,” noted Jim Clark, President of Colio Estate Wines.
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. 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 220,000 sq. ft. greenhouse licensed for the
production, processing and sales of dried cannabis, cannabis plants
and processing of cannabis oil 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.
ABOUT COLIO ESTATE WINES
The Colio Estate Wines story is one of patience,
determination, and perseverance – qualities that remain today at
the heart of our winemaking practices and spirit. It was along the
Lake Erie Shore, the southernmost and warmest wine region
of Ontario, where three Italian bricklayers named Alfredo,
Enzo and Tiberio decided to fulfill their life dream of building a
world-class winery.
Over 35 years later, consumers continue to enjoy
the rewards of the hard work and craftsmanship that go into every
bottle of Colio Estate wines. The picturesque winery is located in
Harrow in the heart of the Essex/Pelee Island Coast Wine
Country. Its wines are available at LCBO stores and any of the 14
Colio Wine Boutiques across the province. Colio Estate Wines’
website is www.coliowinery.com
1 According to the Association of Canadian
Distillers moving annual total for January 1, 2019 through
September 30, 2019.
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 entering
into a license agreement with Colio Estate Wines, ability to
develop, produce and launch a cannabis-infused beverage, licensing
for the sale of cannabis extracts, approval of new products, the
successful production and launch of the Company's new derivative
products, consumer preferences, competition, 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 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: (855) 628-6337 |
|
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