Eve & Co Inc (TSXV: EVE) (OTCMKTS: EEVVF) has been on a wild rise in recent months over doubling since August. The stock has quickly attracted a growing shareholder base which has been bidding this one higher.
Eve & Co is quickly establishing itself as a major player in the booming cannabis space responsible for many, many huge recent winners. The sector is on fire as we near legal recreational cannabis in Canada on October 17. The global legal marijuana market is expected to reach USD 146.4 billion by end of 2025, according to a new report by Grand View Research, Inc.
Eve & Co Inc (TSXV: EVE) (OTCMKTS: EEVVF) is a licensed producer and seller of dried cannabis and cannabis plants, and producer of cannabis oil under the Access to Cannabis for Medical Purposes Regulations. The Company’s wholly owned subsidiary Natural MedCo Ltd. is Canada’s first female founded licensed producer, and received its cultivation licence from Health Canada in 2016 and its sales licence from Health Canada in June 2018.
Eve 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 has broken ground on an additional 780,000 sq. ft. expansion, bringing Eve’s total anticipated greenhouse capacity to 1,000,000 sq. ft. The Company is led by Melinda Rombouts who was the president, manager and owner of numerous large scale businesses producing agricultural food and pharmaceutical related products.
The Company has secured a number of provincial supply arrangements including a memorandum of understanding with the Province of British Columbia and supply agreements with the Ontario Cannabis Retail Corporation and the Newfoundland and Labrador Liquor Corporation with respect to the supply of adult-use cannabis.
Eve & Co completed private placements for combined aggregate gross proceeds of approximately $20.8 million. The Company also recently received an amended licence from Health Canada under the Access to Cannabis for Medical Purposes Regulations (the “ACMPR”) for the production of bottled cannabis oil. The amended licence authorizes the production of bottled cannabis oil. Shipping would commence after Health Canada provides authorization to sell cannabis oil.
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CEO Melinda Rombouts said the other day “This was a very successfully quarter for Eve and our team. We completed our qualifying transaction and listing on the TSXV, finished construction of our first 100,000 sq. ft. expansion, began construction of our second expansion of approximately 780,000 sq. ft., received our sales license, secured supply arrangements for distribution from the coast-to-coast of Canada, increased production to full capacity in our initial 120,000 sq. ft. greenhouse and were granted DTC eligibility. With our new authorization to produce extracts, we are also excited to begin producing test batches for Health Canada during our fourth quarter.”
The Company was recently included in the Horizons Marijuana Life Sciences exchange-traded fund (TSX: HMMJ). To be eligible for inclusion in this ETF, issuers must meet certain minimum asset, market capitalization and liquidity thresholds.
CEO Melinda Rombouts said a few weeks ago “We have partners out of Colorado and we do believe that everything that has happened in the states, because they are about five years ahead of us, that we will see those trends up here. They started off with dried flower as well and then they moved into oil and extracts and I think we are going to see that here too, right now we are just doing dried flower but we are really excited when health Canada finally allows us the extras like the edibles, and we are really excited about what we can do with the product line, especially stuff for woman, there are so many products in the states that we would really love to bring up here, kind of luck under the umbrella of the circle of eve where they have product for female sanitary sensual products, they have beauty creams and cosmetics, there is so many different aspects, we are very excited about that and we are really looking forward to when we can finally get into those other products once Health Canada allows us to.”
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Currently Eve & Co has $7.3 million in the treasury and has very little debt. Eve & Co is a really exciting Company; they are led by a team of agricultural experts including CEO Melinda Rombouts and they have 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 recently broke ground on an additional 780,000 sq. ft. expansion, bringing Eve’s total anticipated greenhouse capacity to 1,000,000 sq. ft. While Eve & Co is quickly scaling up to become a major producer, the stock just went public in Canada on July 4 and is relatively unknown as of it. We will be updating on Eve & Co when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Eve & Co.
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Disclosure: we hold no position in Eve & Co either long or short and we have not been compensated for this article.