Eve & Co Inc (OTCMKTS: EEVVF) announced that its wholly-owned subsidiary Natural MedCo Ltd. (“NMC”) entered into the agreement with Adjupharm GmbH for the supply of up to 660 Kilograms (kg) of dried and gramma-irradiated cannabis flowers.
Order book strengthens: As per Eve & Co, its wholly-owned subsidiary signed an agreement with Adjupharm GmbH for the supply of cannabis. As per the agreement, the company stated that Adjupharm is expected to order up to 660 kilograms of NMC’s dried and gramma-irradiated cannabis flowers for three years. Adjupharm is one of the leading medical cannabis distributors in the E.U (European Union). As per the agreement, Adjupharm is expected to distribute the product received from Eve in the German market. As per the industry, it is believed that Eve is one of the high-quality producers of cannabis globally. Therefore, Adjupharm is expected to tie up with the best process and high-quality companies such as Eve & Co., as Adjupharm can’t risk patient health as a medical distributor.
The new order is expected to strengthen NMC’s order book and provide a strong earning visibility for the next three years. As per the agreement, the current order is initially for three years. However, if executed successfully, it opens the door for the company to bag more orders from Adjupharm and strengthen its partnership.
The exit of Ivan Ross Vrana: On the corporate front, the company announced that Vice President, Government Relations, and Business Development person Ivan Ross Vrana exited the company to pursue other interests. The company will actively look to fill the vacant position with equally competent people. Meanwhile, its business development activities continue to function as it was in the presence of Vrana.
As per the industry, the firm order book is just a step for the company’s future growth. The agreement with Adjupharm is going to strengthen Eve’s position further in the European market. Successful execution of the given order is expected to open the door of other medical cannabis distributors to join hands with Eve & Co. The current order book is expected to increase consolidated profitability and expected to create value for shareholders.