KELOWNA, BC, October 5, 2021 / PRNewswire / – The Valens Company Inc. (TSX: VLNS) (OTCQX: VLNCF) (the âCompanyâ, âThe Valens Companyâ or âValensâ), a leading manufacturer of cannabis products, announced today hui having entered into six manufacturing partnerships to produce a variety of cannabis products, including pre-rolls, innovative edibles, vape, hydrocarbon concentrates, and to provide expert extraction services , including the production of high quality winterized and full spectrum oils and distillates.
The six agreements include three of the top seven authorized Canadian producers by market share and showcase the extensive manufacturing capabilities that Valens offers to its customers. The majority of agreements have been signed over the past three weeks, demonstrating the significant interest in the capabilities provided by the Valens platform. Collective agreements are expected to begin in the next two quarters, with revenue generation expected during the same period. In addition, four of the agreements require down payments of up to 100% of the original purchase orders.
“These agreements, which encompass some of our most important licensed Canadian producer partners, represent the broad spectrum of our manufacturing capabilities, reinforcing our being an ally of our customers and consumers,” said Tyler robson, Chairman and CEO, President, Co-Founder of The Valens Company. âIn particular, the size of these deals aligns with our promise of less, bigger, better in terms of relationships and products, ensuring that we remain focused on delivering the highest shareholder value. In addition, this is the largest third-party edible agreement to date for LYF Food Technologies. We are delighted to have these partners on board and will continue to focus on adding partners who match our values.
With respect to the Company’s request to list its common shares on the Nasdaq Capital Market (âNasdaqâ), the listing process has progressed at a slower pace than initially anticipated.
However, the Company continues to make it a top priority and expects to begin trading on the Nasdaq by the end of fiscal 2021. The common shares will continue to be listed on the Toronto Stock Exchange (âTSXâ) under. the symbol “VLNS”. In addition, the common shares will continue to be listed on the OTCQX until the common shares can be listed on Nasdaq, subject to the approval of the Company’s listing application.
Valens retained Stikeman Elliott LLP in Canada and Foley Hoag LLP in the United States as legal counsel to advise the Company throughout the Nasdaq listing application process.
In Valens, it’s Personal.
About the company Valens
The Valens Company is a leading cannabis consumer products company, with significant expertise in the manufacture of cannabinoid products and a mission to bring the benefits of cannabis to the world. Valens provides exclusive cannabis processing services and the development, manufacture and marketing of premium packaged cannabis consumer products. Valens’ high-quality products are formulated for the recreational, health and wellness, and medical consumption segments and are offered in all categories of cannabis products, with an emphasis on quality and product innovation. Valens also manufactures, distributes and sells a wide range of CBD products in United States through its subsidiary Green Roads, and distributes medicinal cannabis products on international markets through its subsidiary Valens Australia. In partnership with brands, consumer packaged goods companies and licensed cannabis producers around the world, Valens continues to develop its diverse product portfolio in line with the evolving preferences of cannabis consumers. Through Laboratories of Valens, Valens sets the standard for cannabis testing and research and development with from Canada The only ISO17025 accredited analytical services laboratory, named a Center of Excellence in Plant-Based Science by partner and global scientific leader Thermo Fisher Scientific. Find out more about The Valens Company at http://www.thevalenscompany.com.
Notice Regarding Forward-Looking Statements
All information included in this press release, including any information regarding future financial or operational performance and other statements by The Valens Company that express management’s expectations or estimates regarding future performance, other than statements of fact historical, constitute forward-looking information or -forward-looking statements within the meaning of applicable securities laws and are based on expectations, estimates and projections as of the date hereof. Forward-looking statements are included for the purpose of providing information about management’s current expectations and plans for the future. Where possible, words such as “plans”, “expect”, “forecast”, “trends”, “forecasts”, “future”, “indications”, “potential”, “estimates”, “predict”, “foresee”, “establish”, “believe”, “intend”, “the capacity to”, or statements that certain actions, events or results “could”, “should”, “could”, “could” , “Could”, “could”, or are “likely” to be taken, to occur or to be reached, or the negative of these words or other variations thereof, have been used to identify these words. forward-looking information. Specific forward-looking statements include, without limitation, any disclosure regarding future results of operations, future results of transactions, economic conditions and planned action plans. Investors and other parties are advised that there is not necessarily a correlation between the number of SKUs manufactured and shipped and revenues and profits, and that this information should not be relied on unduly.
Risks and uncertainties that may affect forward-looking statements include, among others, whether the Company will be able to meet all Nasdaq listing requirements, Canadian regulatory risk, Australian regulatory risk, US regulatory risk, border crossing United States and travel bans. , uncertainties, effects and responses to the COVID-19 pandemic, dependence on licenses, expansion of facilities, competition, dependence on the cannabis supply and addiction with respect to other key inputs, dependence on senior management and key personnel, general business risk and liability, regulation of the cannabis industry, changing laws, regulations and guidelines, compliance to laws, limited operating history, vulnerability to rising energy costs, adverse publicity or perception of consumers, product liability, intellectual property risks, product recalls, difficulties with forecasting, management growth and litigation, many of which are outside of The Valens Company’s control. For a more complete discussion of the risks that The Valens Company faces, and which may cause the actual financial results, performance or achievements of The Valens Company to differ materially from the estimated future results, performance or achievements expressed or implied For forward-looking information or forward-looking statements, please refer to the latest annual information form of The Valens Company filed with the Canadian securities regulatory authorities at www.sedar.com or on The Valens Company’s website at address www.thevalenscompany.com. The risks described in this Annual Information Form are incorporated by reference herein. Although the forward-looking statements contained in this document reflect the current beliefs of management and reasonable assumptions based on information available to management at the date hereof, The Valens Company cannot be certain that actual results will be consistent with these. forward-looking information. The Valens Company cautions you not to place undue reliance on these forward-looking statements. Valens disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Nothing herein should be construed as an offer to sell or a solicitation to buy or sell securities of The Valens Company.
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SOURCE La Compagnie Valens Inc.