TORONTO, June 25, 2018 (GLOBE NEWSWIRE) -- Carlaw Capital V Corp. (“Carlaw”) (NEX:CVC.H) is pleased to announce that 1600978 Ontario Inc. (which operates as Natural MedCo) (the “Company”) has been granted permission to sell medicinal cannabis under the Access to Cannabis for Medical Purposes Regulations. It is expected that such sales permission will automatically extend to allow the Company to conduct recreational cannabis sales once legal under the Cannabis Act, which the federal government has announced will occur on October 17, 2018.
As previously announced, the Company and Carlaw have entered into an amalgamation agreement pursuant to which the Company and a wholly-owned subsidiary of Carlaw will amalgamate (the “Amalgamation”). Upon completion of the Amalgamation, it is the intention of the parties that Carlaw will be renamed “Eve & Co Incorporated” (“Eve & Co”) and continue to carry on the medicinal cannabis business of the Company.
Eve & Co is also intending to position itself, under its new “Eve” brand, as a premier, female and wellness-focused cannabis brand in the recreational market. Eve & Co expects to provide educational information and online support for its customers and first-time buyers. Eve & Co will also work through market outreach and education to destigmatize cannabis consumption among women.
It is expected that Eve & Co will continue to serve the medicinal cannabis market through its Natural MedCo brand as well.
"We believe that Canadian women want a brand they can trust and feel connected to. We’re aiming to be the premier Canadian cannabis brand for women in the consumer sector, who will soon be walking into provincial cannabis stores this October. We're hoping Eve's message of female empowerment and leadership will resonate, and more importantly, help establish meaningful relationships with the consumers who use our products", commented Melinda Rombouts, President and Chief Executive Officer of the Company.
Further information about the Amalgamation and Natural MedCo is available on Carlaw’s SEDAR profile at www.sedar.com.
About Natural MedCo
Natural MedCo received its license on July 22, 2016 under the Marihuana for Medical Purposes Regulations (MMPR), and is now a licensed producer of dried cannabis under the Access to Cannabis for Medical Purposes Regulations (ACMPR). Natural MedCo was Canada’s 34th licensed producer and first female-founded licensed producer.
Natural MedCo is led by a team of agricultural experts and has a 120,000 sq. ft. scalable greenhouse production facility located in Middlesex County, Ontario with 32 acres of adjacent land for future expansion. Natural MedCo is currently working towards the completion of its ‘Phase One’ greenhouse expansion, which will add an additional 100,000 sq. ft. and is expected to be completed by the end of this month, and has broken ground on an additional 780,000 sq. ft. ‘Phase Two’ expansion, bringing Natural MedCo’s total anticipated greenhouse capacity to 1,000,000 sq. ft.
About Carlaw Capital V Corp.
Carlaw is a capital pool company formed under the TSX Venture Exchange (the “TSXV”) Capital Pool Company program. Material information about Carlaw can be found on SEDAR under Carlaw’s issuer profile at www.sedar.com.
The TSXV has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Service Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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 Carlaw’s 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 Carlaw’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. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.
Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to: Carlaw and Natural MedCo’s ability to complete the Amalgamation and Natural MedCo’s ability to complete sales into the recreational market or at all. Additional information identifying risks and uncertainties is contained in the Carlaw’s filings with Canadian securities regulators, and available at www.sedar.com. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Carlaw. These forward-looking statements are made as of the date of this press release and the Carlaw assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.
For additional information, please contact:
| Amar Bhalla CEO, CFO and Corporate Secretary Carlaw Capital V Corp. Telephone: (416) 922-9060 | Melinda Rombouts President and CEO Natural MedCo Telephone: (855) 628-6337 |