Eve & Co Incorporated (TSXV: EVE) announced this morning that it will be entering the cannabis beverage space. The female-focused firm will be doing so via a partnership with that of Colio Estate Wines, the firm behind the Girls Night Out line of wine products.
Under the letter of intent signed between the two firms, Eve & Co will have exclusive access to the Girls Night Out brand for the purpose of creating a premium cannabis-infused beverage. The product will then be part of Eve & Co’s consumer packaged good launch which is anticipated to occur in early 2020.
The letter of intent indicates that a licensing agreement will be entered into among Eve & Co and Colio Estate Wines within 60 days for the use of the Girls Night Out label. Preliminary terms indicated to be within the LOI are a five year term, with a five year renewal option. Royalty fees have been “contemplated” however no specifics were provided.
Distribution of the cannabis infused beverage is expected to occur in 2020.
Eve & Co last traded at $0.18 on the TSX Venture.
Information for this briefing was found via Sedar and Eve & Co Incorporated. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.