Eve & Co Announces Completion of its 780,000 Square Foot Expansion; Becomes Operator of One of the World’s Largest Cannabis Production Facilities
TORONTO, Aug. 06, 2019 (GLOBE NEWSWIRE) — Eve & Co Incorporated (“Eve & Co” or the “Company”) (TSX-V: EVE; OTCQX: EEVVF) is thrilled to announce that it has completed construction of its 780,000 square foot hybrid greenhouse expansion located in Southwestern Ontario. The expansion is situated on the same property as the Company’s currently 220,000 square foot licensed hybrid greenhouse.
The expansion includes leading edge, 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 some of the most 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 in class infrastructure for a hybrid greenhouse with yield optimization and control.
“We could not be happier to announce the much-anticipated completion of construction for our state of the art 780,000 square foot greenhouse. At just over a total of one million square feet, our facility is now one of the largest cannabis growing facilities in the world and will enable us to be a significant supplier to the Canadian and world cannabis market,” said Melinda Rombouts, President and Chief Executive Officer of Eve. “This expansion brings together the best in class greenhouse technology, components, engineering and design from the leading manufacturer of greenhouse systems in The Netherlands and greenhouse construction company in Canada. This greenhouse is the first of its kind in Canada. It includes unique design components designed specifically to augment cannabis growth, including a fully integrated micro pore netting to maintain clean room requirements and fully continuous roof vents to optimize environmental conditions. To give some perspective of the enormity of this project, installation included 135 km of heating pipe, 88 km of growing support troughs and approximately 300,000 plant irrigation drippers. We are very pleased that the project was completed on target and wish to extend our appreciation to Universal Fabrication and BOM Group for their outstanding project delivery.”
With this expansion, the Company will be able to take advantage of the on-site supply of clean, natural, laboratory-tested groundwater. Additionally, the Company has added an advanced automated fertilization and irrigation system which recirculates and accurately monitors plant nutrients for optimization and environmental compliance. The triple boiler system with dual fuel oil and natural gas will ensure proper continuous heating and the latest CO2 scrubber technology provides for the CO2 to be fully monitored and injected for optimal plant growth. Every design feature takes into consideration strict Health Canada requirements for Good Production Practices, adherence to cannabis Regulations and established Standard Operating Procedures to enable the Company to operate at pharmaceutical clean room control levels.
The anticipated increase in production capacity of 50,000 kgs annually will allow Eve & Co to introduce a number of value-added products to the Canadian market under its female-focused “Eve” brand while continuing to build and execute on its international wholesale program.
In recognition of this significant milestone, the Company will invite staff, shareholders, local government, construction crews and other stakeholders to join them for a Ribbon Cutting and Open House in mid September before the expansion is closed in anticipation of Health Canada licensing.
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 various cannabis products, including 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 licenced 220,000 sq. ft. scalable greenhouse production facility located in Strathroy, Ontario. Eve & Co has completed construction of an additional 780,000 sq. ft. expansion, bringing Eve & Co’s total greenhouse capacity to 1,000,000 sq. ft.
The Company’s website can be visited at www.evecannabis.ca.
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 expansion and construction plans and the expected timing of completion, 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 two and fourteen months ended December 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
Eve & Co Incorporated
Telephone: (647) 473-4947