Eve & Co’s wholly owned subsidiary Natural MedCo has signed a letter of intent (LoI) with Colio Estate Wines, a Canadian winery.

Under the terms of the LoI, a cannabis-infused beverage will be developed to be included in Eve & Co’s consumer packaged goods (CPG) launch.

Additionally, the LoI contemplates signing a license agreement for the Girls’ Night Out brand within 60 days.

Through Natural MedCo, Eve & Co holds cultivation and processing licences under the Cannabis Act (Canada) for the production and sale of various cannabis products.

With the latest agreement, Eve & Co aims to enter the adult Canadian cannabis-infused beverage market by next year.

Eve & Co president and CEO Melinda Rombouts said: “We are thrilled to be working with Colio Estate Wines and the wonderful team behind the Girls’ Night Out brand. We’ve been working diligently with their team for quite some time.

“Colio Estate Wines has proven to be an excellent partner in developing a beverage offering to launch into the Canadian adult-use cannabis market and aligns very well with our female-oriented vision.”

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Under the LoI, Eve & Co has proposed the creation of a licensing agreement for five years initially with a five-year option in favour of its subsidiary and also contemplates licensing royalties.

Colio Estate Wines president Jim Clark said: “It’s been a pleasure working with Eve & Co as we are like-minded in our focus and culture and share the same corporate values and goals. We look forward to further collaboration with their team on this project and in this emerging sector.”