- Eve. & Co. enters exclusive letter of intent with Dr. Kerklaan Therapeutics
- The agreement encompasses all stages from manufacturing to sale and distribution of CBP topical products in Canada
- The initial term of the licensing agreement will be five years, with the option for Eve & Co. to extend thereafter
- Eve & Co. shares are up 6.06% today at $0.18, with a market cap of $50.38 million
Eve & Co. (TSXV:EVE) has entered, through its wholly-owned subsidiary Natural MedCo, an exclusive letter of intent with Dr. Kerklaan Therapeutics.
The letter of intent outlines the exclusive license to manufacture, import, export, warehouse, package, distribute and sell a range of CBD products in Canada under the Dr. Kerklaan Therapeutics or Eve & Co. brands; or alternatively a combination of the two companies.
The company is expected to reach a licensing agreement with Dr. Kerklaan’s – a provider of highly effective CBD topical solutions – by May 13, 2020.
“We are very excited to be partnering with Dr. Kerklaan Therapeutics on the development and distribution of CBD Creams. Dr. Kerklaan and his team have brought their extensive knowledge of the CBD industry and unparalleled enthusiasm to the table, and we are eager to move forward together and capture the potential for both companies in Canada,” said Melinda Rombouts, President and CEO of Eve & Co.
“Dr. Kerklaan has developed many high-end CBD topical products which address a number of concerns and are a complimentary fit for our brand Eve.”
The initial term for the licensing agreement will be five years, after which Natural MedCo will have the option to extend the agreement in additional five-year intervals.
The manufacture and distribution of the CBD topical products is expected to commence in 2020.
“Canada represents an exciting opportunity for Dr. Kerklaan Therapeutics. Expanding our international reach to include Canada is an important milestone for the brand, and we’re thrilled to have Eve & Co as a strategic partner to help launch our collection of CBD topicals,” said Andrew Kerklaan, Founder & CEO of Dr. Kerklaan Therapeutics.
Already in distribution throughout the US, UK and Europe, Dr. Kerklaan’s products have been featured in Vogue, The Oprah Magazine, Forbes, Allure, Esquire and Rolling Stone Magazine.
Eve & Co. shares are up 6.06% today at $0.18, with a market cap of $50.38 million.