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Eve & Co Obtains Amended and Restated Initial Order, Court Approval of Sales Process

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STRATHROY, ON, April 1, 2022 /CNW/ - Eve & Co Incorporated ("Eve & Co" or the "Company") (NEX: EVE.H) (OTCQX: EEVVF) provides an update today following its filing for creditor protection under the Companies' Creditors Arrangement Act ("CCAA") on March 25, 2022. The Company has announced that the Ontario Superior Court of Justice (Commercial List) (the "Court") issued an Amended and Restated Initial Order that, among other things, extended the stay of proceedings to August 26, 2022. The Court also issued an order approving a sale and investment solicitation process ("SISP"). The Company intends to conduct the SISP with the goal facilitating a transaction that sees the Company emerge from CCAA protection as a going concern.

The Company expects to make further announcements as material progresses under the CCAA process continue to occur.

ABOUT EVE & CO

Eve & Co, through its wholly-owned subsidiary NMC, 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 its European Union certificate of Good Manufacturing Practice. NMC 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.

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 use of proceeds, 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 three and nine months ending September 30, 2021 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Eve & Co Incorporated

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View original content: http://www.newswire.ca/en/releases/archive/April2022/01/c7287.html

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