Eve & Co Announces Health Canada Approval of Additional Processing Area
May 04 2020 - 7:00AM
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 a 7,300
square foot area (“Processing Area 2“) as eleven additional
processing rooms. Processing Area 2 enables the Company to continue
its production ramp-up to supply cannabis markets in Canada and
abroad under its European Union Certificate of Good Manufacturing
Practice from the Government of Upper Bavaria, Germany.
“We are very pleased to have received Health
Canada’s approval for our additional processing area. This is an
integral step in supporting our 780,000 square foot flowering room
expansion and production ramp-up. With this approval, 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(1),” said Melinda Rombouts, President and
CEO of Eve & Co.
Processing Area 2 provides immediate licensed
capacity to facilitate additional social distancing measures for
the Company during the COVID-19 pandemic.
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.
(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 and has received EU
GMP certification. 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 use of Processing Area 2, 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 year-ended December 31, 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 RomboutsPresident and Chief Executive OfficerEve &
Co IncorporatedTelephone: (855) 628-6337
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