Notice to Transfer from Tier 1 of the TSX Venture Exchange to the NEX Board and Trading Halt

STRATHROY, ON, March 28, 2022 /CNW/ - Eve & Co Incorporated ("Eve & Co" or the "Company") (TSXV: EVE) (OTCQX: EEVVF) announces that in connection with the resignations of Ravi Sood and Jeanette VanderMarel as directors of Eve & Co on March 22, 2022 and March 23, 2022, respectively, the TSX Venture Exchange (the "Exchange") has suspended trading in the Company's securities for failure to maintain Exchange requirements to maintain a minimum of three directors on the board of the Company at all times.

Reinstatement to trading can occur only at such time that the Exchange has concluded its reinstatement review to ensure the Company has satisfactorily complied with all Exchange requirements. A further news release will be issued in the event that the Company has met the conditions to have its shares reinstated for trading following the reinstatement review by the Exchange. There can be no assurance that reinstatement will proceed.

The Exchange has, on March 28, 2022, issued a bulletin to transfer the listing and tier classification of the common shares in the capital of the Company from Tier 1 of the Exchange to the NEX board of the Exchange as a result of the commencement of the Companies' Creditors Arrangement Act proceedings.

ABOUT EVE & CO

Eve & Co, through its wholly-owned subsidiary NMC, 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 its European Union certificate of Good Manufacturing Practice. NMC 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 square foot greenhouse located in Strathroy, Ontario.

The Company's website can be visited at www.evecannabis.ca.

Notice regarding forward looking statements:

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 expected use of proceeds, opportunities for growth, 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 and six month periods ended June 30, 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. 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.

SOURCE Eve & Co Incorporated