Eve & Co Receives Licence Amendment to Sell Cannabis Extracts, Edibles and Topicals

STRATHROY, Ontario, July 20, 2020 (GLOBE NEWSWIRE) -- Eve & Co Incorporated (“Eve & Co” or the “Company”) (TSX-C: EVE; QTCQX: EEVVF) is pleased to announce that Health Canada approved on July 17, 2020 an amendment to the licence of its wholly-owned subsidiary Natural MedCo Ltd.(“NMC”) granting the sale of cannabis extracts, edibles and topicals.

This licensing amendment will allow the Company to significantly expand its product offering to consumer markets. It has submitted four additional products’ (Cannabis 2.0) Stock Keeping Units (“SKUs”) to Health Canada. These products are expected to be released in the third and fourth quarters of 2020. The Company plans on submitting more SKUs in the coming months as it expands its product line within female-focused categories. The Company has entered into letters of intent with Colio Estate Wines and Dr Kerklaan Therapeutics as previously announced on November 22, 2019 and January 30, 2020 respectively, for the development of cannabis-infused beverage and topical products, respectively and this licensing amendment permits the sale of such products as and when they are developed and released to consumer markets.

“We are thrilled to expand our product offerings into the recreational market to better provide alternative methods of consumption beyond flower. This is a significant step in our journey and our Product Development team has worked tirelessly on building partnerships with well-established and successful manufacturers. We are excited to move forward in bringing innovative products to the market, which we believe women need from their cannabis edibles, extracts and topicals. As one of the largest cannabis facilities with EU-GMP certification, we are looking forward to the future of the supply of additional products into the European Union and continuing to work with our partners, one of whom (Bavaria Weed GMbH) also recently received its EU-GMP certification,” said Melinda Rombouts, President and CEO of Eve & Co.

The Company is also pleased to announce that it has received Health Canada’s approval on July 6, 2020 for the renewal of its licence for standard cultivation, standard processing and sale for recreational purposes under the Cannabis Regulations. The licence has been renewed for a further three years, effective until July 6, 2023.

About Eve & Co Incorporated

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 which allows Eve to distribute its products to the EU. 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.

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 approval of new products, the successful production and launch of the Company’s new cannabis 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 three months ended March 31, 2020 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 Rombouts
President and Chief Executive Officer
Eve & Co Incorporated
Telephone: (855) 628-6337