STRATHROY, Ontario, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Eve & Co Incorporated (“Eve & Co”, “we”, “us” or the “Company”) (TSX-V: EVE; OTCQX: EEVVF) is pleased to announce that its wholly-owned subsidiary, Natural MedCo Ltd. (“NMC”), has signed a supply agreement with Colio Estate Wines (“Colio”), one of Canada’s leading wineries and the company behind the top-selling domestic flavoured wine beverage brand, Girls’ Night Out1 on August 5, 2020.
The supply agreement contemplates developing a premium cannabis-infused wine-based beverage for distribution by Eve & Co and licensing for the Girls’ Night Out brand. The term of the license agreement is for an initial three-year period with a two-year option in favour of NMC and contemplates licensing royalties for the cannabis-infused beverage to enter the adult-use market in 2020.
“We are very excited to be working with Colio and the tremendous team behind the Girls’ Night Out brand. The combination of Colio’s expertise with our high-quality cannabis extract allows us to provide consumers with a new cannabis-infused beverage which aligns very well with our female-oriented vision,” said Melinda Rombouts, President and Chief Executive Officer (“CEO”) of Eve & Co.
Jim Clark, President and CEO of Colio noted that “Colio is delighted to be working with Eve & Co to produce a new cannabis-infused beverage that builds on the success of the Girls’ Night Out brand at satisfying the tastes and palates of female wine aficionados or connoisseurs.”
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.
ABOUT COLIO ESTATE WINES
Colio’s story is one of patience, determination, and perseverance – qualities that remain instilled today at the heart of their winemaking practices and spirit. It was along the Lake Erie Shore, the southernmost and warmest wine region of Ontario, where three Italian bricklayers named Alfredo, Enzo and Tiberio decided to fulfill their lifelong dream of building a world-class winery.
Forty years later, consumers continue to enjoy the rewards of the hard work and craftsmanship that go into every bottle that Colio produces. The picturesque winery is located in Harrow in the heart of the Essex / Pelee Island Coast Wine Country. Its wines are available at provincial liquor stores and any of the fourteen Colio Boutiques across the province.
Colio’s website is www.coliowinery.com
1 According to the Association of Canadian Distillers moving annual total for January 1, 2019 through June 2020.
Neither 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.
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 licensing agreement entered into between the Company and Colio Estate Wines, ability to develop, produce and sell a cannabis-infused beverage, licensing for the sale of cannabis extracts, approval of new products, the successful production and launch of the Company’s new derivative products, consumer preferences, competition, 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 months ended March 31, 2020 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 or otherwise unless required by applicable securities law.
For further information, please contact:
Melinda Rombouts
President and Chief Executive Officer
Eve & Co Incorporated
Telephone: (855) 628-6337