STRATHROY, ON, April 8, 2022 /CNW/ - Eve & Co Incorporated ("Eve & Co" or the "Company") (NEX: EVE.H) (OTCQX: EEVVF) and its subsidiaries, Natural MedCo Ltd. ("NMC") and Eve & Co International Holdings Ltd. ("Eve International" and together with Eve & Co and NMC, the "Eve Group") announce an update on their proceedings under the Companies' Creditors Arrangement Act (the "CCAA").
On March 25, 2022, the Ontario Superior Court of Justice (Commercial List) (the "Court") granted an initial order (the "Initial Order") pursuant to the CCAA to the Eve Group. BDO Canada Limited was appointed monitor of the Eve Group (in such capacity, the "Monitor"). On April 1, 2022, the Initial Order was amended and restated by the Court and an order was granted authorizing the Eve Group to undertake a sale and investment solicitation process ("SISP") for the sale of, or investment in, all or part of the assets, shares or business operations of the Eve Group (collectively, the "Property").
The Monitor, in consultation with the Eve Group, is soliciting offers that may include one or more of a recapitalization, arrangement or other form of investment in, or reorganization of, the business and affairs of the Eve Group as a going concern, or a purchase of all or part of the Property.
Information regarding the SISP can be obtained by visiting the Monitor's website: https://www.bdo.ca/en-ca/extranets/eve-co-incorporated-and-natural-medco-ltd/, or by contacting the Monitor's office at (519) 953-0753 or mfinnegan@bdo.ca. Non-binding letters of interest are due by no later 5:00 p.m. EST on July 29, 2022.
ABOUT EVE & CO
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. 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.
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 Company's expected use of proceeds, 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 and nine months ending September 30, 2021 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, changes in the CCAA proceedings or otherwise unless required by applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Eve & Co Incorporated
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