Eve & Co. announces first half revenue of $ 4.0 million
STRATHROY, Ontario, August 18, 2021 (GLOBE NEWSWIRE) – Eve & Co Incorporated (âEve & Coâ, âweâ, âourâ or the âCompanyâ) (TSX-V: EVE; OTCQX: EEVVF), by through its wholly owned subsidiary, Natural MedCo Ltd. (“NMC”) is pleased to announce that it achieved gross revenues of $ 4.0 million in the first six months of 2021, successfully exceeding its gross revenues of $ 3.8 million for the set of 2020 financial year.
The Company is also pleased to announce its financial results for the six-month period ended June 30, 2021 and wishes to highlight the following elements;
- During the first half of 2021, the Company completed additional shipments of EU-GMP certified cannabis to its German customers;
- On February 11, 2021, the Company announced that it had successfully completed its first shipment of cannabis products to New Brunswick. Its cannabis products can be purchased at authorized New Brunswick retailers and online;
- On April 28, 2021, the Company announced that it had successfully completed its first shipment of cannabis products to Alberta. Its recreational cannabis products will be available online and will be available for purchase by licensed private retailers across the province;
- On July 13, 2021, the Company announced that it had entered into a supply agreement with Adjupharm GmbH (âPAÂ») For the purchase and export to Germany of its dried cannabis flower. As part of the initial three-year deal, AP is expected to order up to 660 kilograms of dried cannabis flower from NMC;
- On July 19, 2021, the Company announced that it had entered into a supply agreement with Cannamedical PharmaÂ® GmbH (âCM“) for the purchase and export of dried medical grade cannabis flowers to CM which will distribute medical grade cannabis products in Germany;
- On August 11, 2021, the company announced that it had successfully completed its largest shipment of cannabis to a German customer with an estimated retail value of $ 1.8 million; and
- On August 18, 2021, the Company announced that it had entered into a supply agreement with TCann Pty Ltd., Australia (âTCann“) for the purchase and export of medical grade dried cannabis flowers to TCann which will distribute medical grade cannabis products in Australia.
The financial statements and MD&A for this period are available on the Electronic Document Analysis and Retrieval System (âSEDARâ) at www.sedar.com and on the Eve & Co website at www.evecannabis.ca.
âWe are very pleased with the success and progress of the Eve team in surpassing last year’s sales results in the first half of fiscal 2021. I believe this is due to the dedication of our team, including provincial liaison and sales teams; and the success of our additional products such as our bath bombs under our female-focused Eve brand. We believe, combined with the release of our additional 2.0 products and additional international sales in the second half of 2021, that we will be able to continue to exceed these revenues. Said Melinda Rombouts, President and CEO of Eve & Co.
ABOUT EVE & CO
Eve & Co, through its wholly owned subsidiary NMC, holds cultivation and processing licenses under the Cannabis Act (Canada) for the production and sale of various cannabis products, including the dried cannabis, cannabis plants and cannabis oil extraction and has received EU GMP certification. NMC was the first licensed producer of medicinal marijuana founded by a woman in Canada and received its cultivation license from Health Canada in 2016. Eve & Co is led by a team of agricultural experts and has a licensed greenhouse of 1,000 000 square feet 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.
This press release includes statements containing certain âforward-looking informationâ within the meaning of applicable securities laws (âforward-looking statementsâ). Forward-looking statements are frequently characterized by words such as âplanâ, âcontinueâ, â,â potential â,â proposed âand other similar words, or statements that certain events or conditionsâ may âorâ will be â. Occur, and include, without limitation, the production and sale of bath bombs by the Company, whether sales of bath bombs will occur, if any, or will recur and the moment of these. Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements do not guarantee future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management considers relevant and reasonable in the circumstances that could cause events, results, level of activity, performance, actual prospects, opportunities or achievements differ materially from those projected in forward-looking statements, including general business and economic conditions, changes in laws and regulations, product demand, required commodity price changes , competition, effects and responses to the COVID-19 pandemic and other risks, uncertainties and factors set out under the heading âRisk Factorsâ in the Company’s MD&A dated August 18, 2021 (the â management report â) and filed with the Canadian securities regulatory authorities, available on the Company’s issuer profile on SEDAR at the address e www.sedar.com. The Company cautions that the list of risks, uncertainties and other factors described in the management report is not exhaustive and that other factors could also have an unfavorable impact on its results. Readers are urged to carefully consider risks, uncertainties and assumptions when evaluating forward-looking statements and are cautioned not to place undue reliance on such information. These forward-looking statements speak only as of the date on which they are made, and the Company does not undertake to update them publicly to reflect new information or the occurrence of future events or circumstances, unless the law does not require otherwise.
For more information, please contact:
President and CEO
Eve & Co Incorporated
Telephone: (855) 628-6337