Eve & Co Announces Operating Highlights and Financial Results for the Three Months Ended March 31, 2021

STRATHROY, Ontario, May 31, 2021 (GLOBE NEWSWIRE) — Eve & Co Incorporated (the “Company” or “Eve & Co”) (TSX-V: EVE; OTCQX: EEVVF) is pleased to announce its operating highlights and financial results for the quarter ended March 31, 2021.

The financial statements and management’s discussion and analysis for such period are available on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com and on Eve & Co’s website at www.evecannabis.ca.

Operating Highlights

• The Company recognized gross sales of cannabis to the adult-use and wholesale markets of $2.47 million as compared to $0.47 million for the quarter ended March 31, 2020, representing an increase of 430%;
• During the first quarter of 2021, the Company completed an additional shipment of European Union certificate of Good Manufacturing Practice (“EU GMP”) certified cannabis to another of its German customers;
• On February 11, 2021, the Company announced that it had successfully completed its first shipment of cannabis products to New Brunswick. Its cannabis products can be purchased at licensed New Brunswick retailers and online; and
• On April 28, 2021, the Company announced that it had successfully completed its first shipment of cannabis products to Alberta. Its recreational cannabis products will be available online and can be purchased by the province’s privately owned licensed retailers.

ABOUT EVE & CO

Eve & Co, through its wholly-owned subsidiary Natural MedCo Ltd., 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 EU GMP certification. Natural MedCo Ltd. 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 sq. ft. greenhouse located in Strathroy, Ontario.

CAUTIONARY NOTES

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, licensing, the expected increase in production capacity, the expanded product lines, the commencement of shipments to Germany, opportunities for growth, the effects of COVID-19, sales, 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 three months ended March 31, 2021 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 and 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.

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.

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