Eve & Co. Announces Revenues of $4.0M in the First Half of 2021 and Financial Results for the Six Months Ended June 30, 2021

Eve & Co. Announces Revenues of $4.0M in the First Half of 2021 and Financial Results for the Six Months Ended June 30, 2021




Eve & Co. Announces Revenues of $4.0M in the First Half of 2021 and Financial Results for the Six Months Ended June 30, 2021

STRATHROY, Ontario, Aug. 18, 2021 (GLOBE NEWSWIRE) — Eve & Co Incorporated (“Eve & Co”, “we”, “us” or the “Company”) (TSX-V: EVE; OTCQX: EEVVF), through its wholly-owned subsidiary, Natural MedCo Ltd. (“NMC”) is pleased to announce that it has made gross revenues of $4.0 million in the first six months of 2021, successfully surpassing its gross revenues of $3.8 million for the entire 2020 financial year.

The Company is also pleased to announce its financial results for the six months ended June 30, 2021 and wishes to highlight the following items;

  • 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 licensed 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 can be purchased by the province’s privately owned licensed retailers;
  • On July 13, 2021, the Company announce that it had entered into a supply agreement with Adjupharm GmbH (“AP”) for the purchase and export to Germany of its dried cannabis flower. Under the initial three-year agreement, AP is expected to order up to 660 kilograms of NMC’s dried cannabis flower;
  • On July 19, 2021, the Company announced that it had entered into a supply agreement with Cannamedical Pharma® GmbH (“CM”) for the purchase and export of medical grade dried cannabis flower to CM who 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 customer in German 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 (“TCann”) for the purchase and export of medical grade dried cannabis flower to TCann who will distribute medical grade cannabis products in Australia.

The financial statements and management discussion and analysis for such period are available on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com and on Eve & Co’s website at www.evecannabis.ca.

“We are very pleased with the success and progress of the Eve Team in surpassing last year’s sales results in the first half of the 2021 financial year. I believe this is attributable to the dedication of our team including the Provincial Liaison and Sales teams and the success of our additional products such as our bath bombs under our female-oriented brand Eve. 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 surpass these revenues.” said Melinda Rombouts, President and Chief Executive Officer 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 dried cannabis, cannabis plants and extraction of cannabis oil and has received EU GMP certification. NMC 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 licensed 1,000,000 sq. ft. greenhouse located in Strathroy, Ontario.

The Company’s website can be visited at www.evecannabis.ca

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 news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur, and include, but are not limited to, the production and sale of bath bombs by the Company, whether sales of bath bombs will occur, if any at all, or recur and the timing thereof. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and 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 believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements, including general business and economic conditions, changes in laws and regulations, product demand, changes in prices of required commodities, competition, the effects of and responses to the COVID-19 pandemic and other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s management’s discussion and analysis dated August 18, 2021 (the “MD&A”) and filed with Canadian securities regulators available on the Company’s issuer profile on SEDAR at www.sedar.com. The Company cautions that the list of risks, uncertainties and other factors described in the MD&A is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the 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 undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.

For further information, please contact:

Melinda Rombouts
President and Chief Executive Officer
Eve & Co Incorporated
Telephone: (855) 628-6337