TSXV:EVE.H - Post by User
Post by
MondoCannon Sep 18, 2021 1:47pm
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Post# 33883353
Is this relevant?
Is this relevant?  | Canadian Cannabis Industry and Market
We are seeing some interesting changes in the domestic market. With additional competition of over 750 producers now licensed in Canada, there seems to be a shift by provincial distributors to reduce the number of SKUs being carried. While we continue to supply products across Canada, we are very fortunate to also have the opportunity to supply emerging and growing foreign markets.
Foreign Markets
We now have supply agreements with twelve German buyers, as well as supply agreements for import into additional countries outside of the EU. We have been regularly shipping to Germany since Q4 2020 and have a number of purchase orders for large quantities of product awaiting shipment. Timing of shipment is dependent on the issuance of export permits by Health Canada (approximately 4-8 weeks), import permits from the foreign regulator (approximately 2-4 weeks) and additional licensing required by foreign regulators of our buyers such as import licenses, strain approval and stability studies.
Eve & Co
Our team is made up of people who live and breathe this company, and this is how Eve has been built – with people who are loyal and believe in Eve. The original founders continue to build the company and further develop its growth and opportunities. We have faith in this company and its team, which is why we have not sold a single share. While everyone in the cannabis industry has at some point struggled, the future is bright for Eve, as we can grow into not just the domestic market, but Germany, the EU, Australia and countries such as Israel which also require EU-GMP certification.
Answers to your questions:
EU GMP compliance vs. EU-GMP certification: License holders can engage consultants to help to achieve “EU-GMP compliance” and while developing compliance may help in preparing for EU-GMP certification, actual certification is required for export into the EU. The processes and steps to achieve this elevated certification are extensive and include additional requirements for equipment, processes, procedures, documentation, testing, research studies and validations. We received our certification in March of 2020 and continued to develop with expansion of our license to increase product offerings, be able to engage additional buyers and increase sales.
Eve’s 2.0 Products: We continue to work with Dr. Kerklaan and Colio to release our partnered products. Health Canada requires extensive research and testing for 2.0 products such as these and this testing continues, as we are committed to the safety and ensuring the highest quality of these products before release. We are also very excited about the possibility of our 2.0 products for foreign markets in the future.
Foreign Markets and Beyond: Germany continues to be our primary focus. The main reason for this is due to the maturity of the developed regulations in Germany. Germany also continues to be a main hub for distribution into other EU countries due to its established pharmaceutical distribution capabilities. We see many opportunities in Israel since the Israeli regulators, even though Israel is not part of the EU, is requiring product be imported from EU-GMP certified facilities, as they recognize the higher quality and standards of EU-GMP certified product.
Stock Price: As the largest shareholder, I am also frustrated with the declining share price. This is a frustration across the cannabis industry. The early cannabis public market relied on forecasts, but now investors are looking for companies that can follow through on their plans and SALES. While many in the industry have experienced decreasing sales, ours have been increasing, and we will continue to push every opportunity. This is the primary focus for EVE. Our established supply agreements, certification, production capabilities and experienced team continue to be our greatest assets at Eve & Co. | | | |
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