Eve & Co wholly-owned subsidiary Natural MedCo has entered into a third binding, non-exclusive supply agreement for the sale of dried cannabis to a German importer and distributor.
"The supply agreement is for an initial term of two years and is automatically renewable for subsequent two-year terms unless otherwise terminated by the parties at the end of the initial or renewal term," the team with the company explains. "The German distributor has agreed to purchase a minimum of 25 kilograms of dried cannabis per month for the first two months and a minimum of 100 kilograms per month for the next 22 months. The Company expects to commence shipments subsequent to the anticipated approval by Health Canada of the Company’s 780,000 square foot greenhouse expansion."
“With regulatory approval of our greenhouse expansion expected before the end of the year, we anticipate being able to meet our supply commitments and to expand our sales channels in Germany," said Melinda Rombouts, President and Chief Executive Officer of Eve & Co.
The purchase and sale of dried cannabis under the supply agreement are subject to various conditions precedent, including receipt of all requisite regulatory approvals, including applicable Canadian and Germany export and import authorizations.