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Eve & Co Inc (OTCMKTS:EEVVF) Posts Robust Revenues Of $3.7 Million In 2019: Receives Amended Cannabis Cultivation License For Third Flowering Room As Grow Area

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Eve & Co Inc (OTCMKTS:EEVVF) has reported revenues of $3.7 million in 2019. It is an increase of 668% when compared to the 14 months ending December 31, 2018. The company posted robust growth because of the commencement of cannabis sales.

Eve & Co has reported revenues of $608,247 for the three months ending December 31, 2019. It is a decline of 34% when compared to the previous quarter. The company’s subsidiary – Natural MedCo Ltd has received amended cannabis cultivation and processing license from Health Canada on December 16, 2019. It allows the company to use the flowering room as a grow area (780,000 Sq. Ft.).

Signs non-exclusive supply agreements

Eve & Co has signed three non-exclusive supply accords during January and September 2019 to sell dried cannabis to the German distributors and importers. Natural MedCo has received the European Union Certificate of Good Manufacturing Practices on March 6, 2020, from the Upper Bavaria Government, Germany. Eve & Co expects to commence the shipping of products to Germany as per the supply agreements signed in 2020. Natural MedCo has sold medical cannabis to the patients in Canada on April 2, 2020, under the supply agreements signed with Cannalogue.

Unveils cannabis products to female customers

CEO and President of Eve & Co, Melinda Rombouts, said the company is going forward with its plans to distribute cannabis to the European Union. Eve & Co is one of the Canadian companies to receive a EUGMP certificate. Melinda said the company will focus on the distribution and sales to the European Union and in Canada. It plans to unveil cannabis products to female customers through its brand partners.

Grants common shares to Yasir Naqvi

Eve & Co has granted purchase options to Yasir Naqvi. As per this option, Yasir Naqvi, who is recently appointed to the board of directors, can acquire 1 million common shares of Eve & Co. Yasir can exercise the options over five years at a price equal to or greater than $0.08 for each common share. Natural MedCo has entered the medical cannabis market in Canada through its product listing accord with Cannalogue, which sells products to the medical patients in Canada.

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