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Eve & Co Provides Update on Phase 2 Expansion
TORONTO, Dec. 03, 2018 (GLOBE NEWSWIRE) -- Eve & Co Incorporated (TSX-V: EVE) (“Eve & Co” or the “Company”) is pleased to provide an update on its 780,000 square foot greenhouse expansion.
The construction of the Company’s greenhouse expansion has seen recent significant advancement after commencing this past July. The in-ground infrastructure has been completed which included the movement of a municipal drain for land usage maximization as well as additional substructure to ensure compliance with municipal zoning and strict adherence to Ministry of Environment requirements. Significant rainfall in our area had caused a slight delay but the expansion is well underway with footings installed and the posts and core structure being erected. The expansion has been designed to include state of the art, scientifically proven greenhouse design features for full climate and automation control, auxiliary lighting to maximize yield and total black-out curtains for effective flowering transition. Eve & Co engaged the recognized experienced and knowledgeable consultants, engineers, greenhouse construction and supply experts in the design and fabrication of this expansion while taking advantage of the experience of Eve & Co’s management in greenhouse systems to adopt the best infrastructure for a hybrid greenhouse with yield optimization and control.
With this expansion, the Company will be able to take advantage of the on-site supply of clean, natural, laboratory-tested groundwater and has added an advanced automated fertilization and irrigation system which recirculates and accurately monitors plant nutrients for optimization and environmental compliance. CO2 will be fully monitored and injected for optimal plant growth using the latest CO2 scrubber technology. Every design feature takes into consideration strict Health Canada requirements for Good Production Practices, adherence to Cannabis Regulations and established Standard Operating Procedures. For example, the fully-enclosed plant support trough system allows for full sanitization and Health Canada adherence and will allow the Company to operate at pharmaceutical clean room control levels. Eve & Co’s advantage is the management’s vast knowledge and experience of greenhouse design and operations for an advanced, highest-yielding system.
The Company expects the expansion to be completed during Q3 2019.
In addition, the Company has announced Jonathan Pollack has resigned from Eve & Co’s board of directors. The Company is currently in discussions with candidates to expand the board’s expertise that is consistent with the development of its female-focused brand.
ABOUT EVE & CO INCORPORATED
Eve & Co, through its wholly owned subsidiary Natural MedCo Ltd., holds cultivation and processing licenses under the Cannabis Act (Canada) for the production and sale of dried cannabis, cannabis plants and cannabis oil. Natural MedCo Ltd. 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 220,000 sq. ft. scalable greenhouse production facility located in Middlesex County, Ontario with 32 acres of adjacent land for future expansion. Eve & Co has commenced an additional 780,000 sq. ft. expansion, bringing Eve & Co’s total anticipated greenhouse capacity to 1,000,000 sq. ft.
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 Company’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 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 ended July 31, 2018 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:
President and Chief Executive Officer
Eve & Co Incorporated
Telephone: (855) 628-6337
Chief Financial Officer
Telephone: (647) 473-4947