Eve & Co Receives Expanded Health Canada Licences

TORONTO, Dec. 10, 2018 (GLOBE NEWSWIRE) -- Eve & Co Incorporated (TSX-V: EVE; OTCQB: EEVVF) (“Eve & Co” or the “Company”) is pleased to announce that as of December 7, 2018, Health Canada authorized Natural MedCo Ltd., a wholly-owned subsidiary of the Company, to use its previously constructed 100,000 sq. ft. second flowering room as a grow area, and a packaging room as an operations area.

With the addition of these approved areas, Eve & Co now has 220,000 sq. ft. of licenced grow and operation areas. The Company expects harvesting to commence at its newly licenced second flowering room by late March 2019.

Natural MedCo Ltd. has also received authorization to commence sales of additional types of cannabis products, including fresh and dried cannabis, to provincially authorized retailers and distributors. Eve & Co is now authorized to sell a variety of cannabis products to provincially authorized retailers and distributors, including fresh and dried cannabis and cannabis plants, and to other licenced cultivators and processors on the B2B market, including fresh and dried cannabis, cannabis plants and cannabis oil.

“The addition of Flowering Room #2 will allow us to more than double our current production levels and to grow in our new, state of the art flowering room.  Approval for Packaging Room #2 will allow us to start using our automated packaging line to efficiently and quickly fill orders in immediate packaging.  The amendment to our sales license expands our market to not only other licensed producers but also to provincial distributors,” commented Melinda Rombouts, Eve & Co’s President and CEO. “We have agreements for supply to Ontario, British Columbia and Newfoundland, and we hope to commence shipment to provincial distributors as soon as possible.  Our team is excited to move forward with these amendments, as well as the next 780,000 sq. ft. expansion and development of our brand, Eve & Co.”

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 Middlesex County, Ontario with 32 acres of adjacent land for future expansion. Eve & Co has broken ground on an additional 780,000 sq. ft. expansion, bringing Eve & Co’s total anticipated greenhouse capacity to 1,000,000 sq. ft.

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 plans, 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 ended July 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.