After hitting the milestone of completing a first full shipment of product to the Cannabis NL online outlet last month, Eve & Co (TSXV: EVE; OTCQB: EEVVF) is now looking to expand internationally.
The company’s wholly-owned subsidiary Natural MedCo Ltd. today announced an agreement to supply dried flower products to a German import company focusing on para-pharmaceuticals.
The terms of the deal see the unnamed company purchasing a minimum of 2,250kg of cannabis over the next two years, with an option to renew the deal at the end of that period for another two years.
Describing the non-exclusive supply deal as a critical milestone in Eve & Co’s plans to expand beyond the company’s Canadian base, Chief Executive Officer Melinda Rombouts commented:
Eve & Co and its subsidiary Natural MedCo have been ramping up operations after a recent StatCan report on marijuana buying habits revealed the potential for a larger slice of the female consumer base.
According to the findings of the report, men are currently more likely to buy marijuana than women, and they tend to buy larger quantities at a single time than their female counterparts.
The company is aiming to break that pattern, with products marketed specifically at female buyers who may not have considered cannabis usage before.
In addition to the recent product shipment fulfillment to Newfoundland and Labrador — where a consistently low supply remains an ongoing issue in the legal market— Eve & Co also just announced a new high-profile board appointment.
Shari Mogk-Edwards has now joined the Eve & Co team, bringing her experience as the VP of Products, Sales, and Merchandising from the Liquor Control Board of Ontario.
That experience is expected to be helpful in navigating the legalized market as regulatory restrictions that vary by province have caused several hurdles in the first three months of legalization.