News
Eve & Co. to sell dried pot to German importer
2019-09-06 08:27 ET - News Release
Ms. Melinda Rombouts reports
EVE & CO ANNOUNCES THIRD GERMAN SUPPLY AGREEMENT
Eve & Co. Inc.'s wholly owned subsidiary, Natural MedCo Ltd., has entered into a third binding, non-exclusive supply agreement for the sale of dried cannabis to a German importer and distributor.
The supply agreement is for an initial term of two years and is automatically renewable for subsequent two-year terms unless otherwise terminated by the parties at the end of the initial or renewal term. The German distributor has agreed to purchase a minimum of 25 kilograms of dried cannabis per month for the first two months and a minimum of 100 kilograms per month for the next 22 months. The Company expects to commence shipments subsequent to the anticipated approval by Health Canada of the Company's 780,000 square foot greenhouse expansion.
"We are very excited to announce our third German supply agreement and to further expand our supply opportunities in Germany. With regulatory approval of our greenhouse expansion expected before the end of the year, we anticipate being able to meet our supply commitments and to expand our sales channels in Germany," said Melinda Rombouts, President and Chief Executive Officer of Eve & Co. The purchase and sale of dried cannabis under the supply agreement are subject to various conditions precedent, including receipt of all requisite regulatory approvals, including applicable Canadian and Germany export and import authorizations.
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.
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