Eve & Co Issues Corporate Update
January 07 2021 - 5:01PM
Eve & Co Incorporated (“
Eve & Co” or the
“
Company”) (TSX-V: EVE; OTCQX: EEVVD) announces a
corporate update.
As a result of the Company’s consolidation of
its common shares (“Common Shares”) on a 1:10
basis as announced on December 29, 2020 (the
“Consolidation”), the 4,581,500 share purchase
warrants (the “Warrants”) of the Company issued
together with the December 11, 2020 Convertible Debentures (being
0.833 Warrants for each Cdn$1.00 principal amount of those
Convertible Debentures) have been proportionately adjusted such
that following the Consolidation, each Warrant now entitles the
holder to acquire one-tenth of one Common Share for a period of two
years from the date of issuance of the Warrant, at an adjusted
post-Consolidation exercise price of Cdn$0.60 per one (1) whole
Common Share for the first year of the term, and Cdn$1.00 per one
(1) whole Common Share for the second year of the term.
In addition, the 20,900,000 share purchase
warrants of the Company issued on May 10, 2019 (the “2019
Warrants”) have also been proportionately adjusted as a
result of the Consolidation pursuant to which each 2019 Warrant now
entitles the holder to acquire one-tenth of one Common Share until
May 10, 2021, at an adjusted post-Consolidation exercise price of
Cdn$6.00 per one (1) whole Common Share.
The Company also announces the grant of 100,000
options to purchase Common Shares (the “Options”)
to a director. The Options are exercisable at a price of Cdn$0.42
per share, for a term of five years. The terms of the Options
granted on January 5th, 2020 are in accordance with the Company's
stock option plan.
ABOUT EVE & CO
Eve & Co, through its wholly-owned
subsidiary Natural MedCo Ltd (“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.
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.
This news release includes statements containing
certain "forward-looking information" within the meaning of
applicable securities law ("forward-looking statements").
Forward-looking statements are frequently characterized by words
such as "plan", "continue", "expect", "project", "intend",
"believe", "anticipate", "estimate", "may", "will", "potential",
"proposed" and other similar words, or statements that certain
events or conditions "may" or "will" occur, and include, but are
not limited to, the negative of these words or other variations on
these words or comparable terminology. Although the Company
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and involve risks and
uncertainties that are difficult to control or predict. Therefore,
actual outcomes and results may differ materially from those
expressed in these forward-looking statements and readers should
not place undue reliance on such statements. Forward-looking
statements contained in this release including statements with
respect to the proposed use of proceeds of the financing and
potential conversion/exercise of the Debentures and Warrants,
amongst other matters. Forward-looking statements are subject to a
variety of risks, uncertainties and other factors that management
believes to be relevant and reasonable in the circumstances could
cause actual events, results, level of activity, performance,
prospects, opportunities or achievements to differ materially from
those projected in the forward-looking statements, including
general business and economic conditions, changes in laws and
regulations, product demand, changes in prices of required
commodities, competition, the effects of and responses to the
COVID-19 pandemic and other risks, uncertainties and factors set
out under the heading "Risk Factors" in the Company's management’s
discussion and analysis dated November 26, 2020 (the
"MD&A") and filed with Canadian securities regulators available
on the Company's issuer profile on SEDAR at www.sedar.com. The
Company cautions that the list of risks, uncertainties and other
factors described in the MD&A is not exhaustive and other
factors could also adversely affect its results. Readers are urged
to consider the risks, uncertainties and assumptions carefully in
evaluating the forward-looking statements and are cautioned not to
place undue reliance on such information. These forward-looking
statements speak only as of the date on which they are made, and
the Company undertakes no obligation to update them publicly to
reflect new information or the occurrence of future events or
circumstances unless otherwise required to do so by law.
For further information, please contact:
Melinda RomboutsPresident and Chief Executive Officer Eve &
Co IncorporatedTelephone: (855) 628-6337
Rory TaylorInterim Chief Financial Officer Eve & Co
IncorporatedTelephone: (855) 628-6337
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