Eevia Health Plc

Eevia Health Plc has received a sales order worth 69 kEUR (780 kSEK) from a new Australian customer for its standardized elderberry extract, Feno-Sambucus 14. The order was facilitated by Eevia's exclusive distributor in Australia, Ingredient Plus, and the end customer is a large contract manufacturing group in Australia with sales across Southeast Asia. This initial order is larger than typical start orders, and the customer is known for large volumes and steady reordering. Eevia expects significant repeat orders from this customer. Feno-Sambucus 14 is an elderberry extract standardized at 14% anthocyanins, differentiated by Eevia's unique purification technology that retains more bioactive compounds compared to competitors. CEO Stein Ulve expressed satisfaction with the success of their Australian distributor and the competitive performance of their European elderberry extracts in Far Eastern markets. Eevia Health Plc, founded in March 2017, produces bioactive compounds from plant materials, primarily wild-harvested from Finnish and Swedish forests. The company sells these extracts B2B as ingredients for dietary supplements and food brands globally. Eevia operates a green-chemistry production facility in Finland and is listed on the Spotlight Stock Market in Sweden under the ticker EEVIA. For more information, visit www.eeviahealth.com or follow Eevia Health on LinkedIn.

Eevia Health Plc has released an information memorandum inviting shareholders to subscribe for new shares. The memorandum, which includes details and instructions for the rights issue, is available on the company's website. If fully subscribed, the offer is expected to raise SEK 28.6 million before expenses. The rights issue is secured by subscription commitments covering 10.8% and guarantee commitments covering 39.4% of the offer volume, totaling 50.2%. Key points of the rights issue include: - Shareholders registered by June 13, 2024, will receive one subscription right per share. - Three subscription rights allow the subscription of four new shares, with one warrant per four subscribed shares. - Subscription starts on June 14, 2024, in Sweden and July 18, 2024, in Finland, ending on June 28, 2024, in Sweden and July 2, 2024, in Finland. - The subscription price is SEK 0.60 per share. - Trading in subscription rights runs from June 14, 2024, to June 25, 2024. Partner Fondkommission and OP Bank are acting as financial advisers and issuing agents in Sweden and Finland, respectively. For more information, contact CEO Stein Ulve or Joel Westerström at Partner Fondkommission. Eevia Health, founded in 2017, produces bioactive compounds from wild-harvested plant materials for dietary supplements and food brands. The company operates an eco-friendly production facility in Finland and was listed on the Spotlight Stock Market in June 2021. More information can be found on their website.

Eevia Health Plc published a restated Q1 2024 Interim Report due to discrepancies between the 2023 statutory Financial Statements released on June 7 and the 2023 Year-End figures in the Interim Report Q1 2024 published on May 22. These discrepancies arose from accounting adjustments agreed upon with the company's auditor. The adjustments included recognizing revenue of 263 kEUR in January 2024 instead of December 2023, reversing 113 kEUR of product development costs from the balance sheet to the income statement in 2023, and an extraordinary write-down of 426 kEUR in inventory value. As a result of these adjustments, the Q1 2024 figures changed, increasing sales revenues and improving EBITDA for the quarter. Key financial metrics for Q1 2024 include net sales of 671 kEUR, gross profit of 372 kEUR, EBITDA of -103 kEUR, and a net result of -387 kEUR. Cash flow from operations was -254 kEUR. Additionally, Eevia is in discussions for potential collaborations and secured a credit line of 640 kEUR, drawing 265 kEUR in Q1 2024. The company also filed a final report for a business development grant and started negotiations for a contract manufacturing arrangement for 2025. Eevia Health Plc, founded in 2017, produces bioactive compounds from wild-harvested plants, primarily for dietary supplements and food brands. The company operates a green-chemistry production facility in Finland and is listed on the Spotlight Stock Market in Sweden. For more information, visit their website or follow them on LinkedIn.

Eevia Health Plc has announced the notice for its Annual General Meeting (AGM) of Shareholders, scheduled for June 28, 2024, at its main office in Seinäjoki, Finland. The notice was published on June 10, 2024. The Record date is June 17, 2024, and the deadline for custodians to complete temporary registrations is June 24, 2024, at 10:00 Finnish time. Details on how to participate in the AGM are available in the notice on Eevia Health's website. This information is disclosed in accordance with the EU's Market Abuse Regulation. Eevia Health, founded in 2017, produces bioactive compounds from plant materials, primarily wild-harvested from Finnish and Swedish forests, for use in dietary supplements and food brands globally. The company operates a green-chemistry production facility in Finland and is listed on the Spotlight Stock Market in Sweden under the ticker EEVIA. For more information, contact CEO Stein Ulve.

Eevia Health Plc has reissued the notice for its Annual General Meeting (AGM) scheduled for June 28, 2024, at its main office in Seinäjoki, Finland, due to an incorrect MAR label on the initial notice. The call for the AGM was made on June 10, 2024, with a record date of June 17, 2024, and a market deadline for temporary registrations by custodians on June 24, 2024. The notice and relevant documents are available on the company's website. Eevia Health Plc, founded in 2017, produces bioactive compounds from plant materials for global dietary supplements and food brands. The company is listed on the Spotlight Stock Market in Sweden under the ticker EEVIA. For more information, contact CEO Stein Ulve.

Eevia Health Plc has released its statutory financial statements and annual report for 2023, along with the Auditor's report. Adjustments have been made to the Year-End Report 2023 (Interim report Q1-24) following the annual audit. These include recognizing 263 kEUR of revenue in January 2024 instead of December 2023, reversing 113 kEUR of capitalized product development costs, and an extraordinary write-down of 426 kEUR in inventory value. The Auditor's report indicates that additional funding will be needed in 2024, but does not modify its statement. Eevia will restate the Year-End Report 2023, with the revised report expected on June 11, 2024. Eevia Health Plc, established in 2017, produces bioactive compounds from plant materials, primarily wild-harvested in Finland and Sweden, and sells these as ingredients for dietary supplements and food brands globally. The company is listed on the Spotlight Stock Market in Sweden. For more details, refer to the provided links.

The board of directors of Eevia Health Plc has decided to initiate a rights issue worth SEK 28.6 million, with preferential rights for existing shareholders. This issue is partially secured, with 50.2% covered by subscription and guarantee commitments. Shareholders will receive one subscription right per share held, and three rights will allow the subscription of four new shares at SEK 0.60 per share. Additionally, up to 11,904,628 warrants will be issued. The subscription period runs from June 14 to June 28, 2024, in Sweden and until July 2, 2024, in Finland. Proceeds will be used for working capital, loan repayment, recruitment, investments, R&D, marketing, and sales. The information memorandum will be published around June 10, 2024.

The Extraordinary General Meeting of Shareholders of Eevia Health Plc, held on June 5, 2024, in Seinäjoki, Finland, resulted in the authorization of the Board of Directors to issue up to 70,000,000 shares, options, and other special rights. This authorization, valid until June 30, 2025, allows the Board to determine the terms and conditions of these issuances, including the possibility of directed issues if there is a significant financial reason for the company. Eevia Health Plc, established in 2017, produces bioactive compounds from wild-harvested plant materials for use in dietary supplements and food brands globally. The company operates a green-chemistry production facility in Finland and has been listed on the Spotlight Stock Market in Sweden since June 2021. For more information, contact CEO Stein Ulve or visit their website.

Eevia Health Plc's Q1-2024 report shows a 28% increase in net sales from Q4-2023, reaching KEUR 407. However, the sales were lower than the first three quarters of 2023, mainly due to a halt in orders from their main US customer. Eevia also faced sales delays due to issues in 2023, which required relabeling of products from organic to conventional. The company managed to solve this problem in February 2024. The gross margin reached 65% due to the increase in sales of higher margin products. Operational costs were KEUR 240 for personnel expenses and KEUR 249 for overhead expenses. Eevia took a short-term loan of KEUR 600 to improve liquidity. The company expects to regain profitability in the second half of 2024. Eevia is also in talks with a global market leader in vision enhancement and eye-health for a possible collaboration and has started negotiations on a contract manufacturing arrangement for 2025 with a mid-sized European food company.

Eevia Health Plc has secured a bridge loan of SEK 7.5 million (EUR 645,000) from Formue Nord Markedsneutral A/S, with a term until July 31, 2024. The loan, which is unsecured, will be used partly to repay a credit line from Råsunda Förvaltning AB, Upgrade Invest Nordic AB, and Renewable Ventures Nordic AB, while the remainder will fund short-term working capital. The loan has an interest rate of 1.0% per month and a 5% arrangement fee. Eevia Health, established in 2017, manufactures organically certified plant extracts and operates a green-chemistry production facility in Finland.