APOTEKA partnership provides strategic entry
for Valens' brands across Central
America
---
Company secures AUS$540,000 order from
Cannvalate to manufacture GMP products for Australian and New
Zealand Markets
KELOWNA, BC, Sept. 16, 2021 /PRNewswire/ - The Valens Company
Inc. (TSX: VLNS) (OTCQX: VLNCF) (the "Company,"
"The Valens Company" or "Valens"), a
leading manufacturer of cannabis products, today announced it has
signed a regional distribution agreement with APOTEKA SRL
("APOTEKA"), a part of Grupo Farmanova Intermed "GFI Costa Rica", a
pharmaceutical holding company based in Costa Rica with operations throughout
Central America and the
Caribbean. Under the agreement,
APOTEKA will bring Valens' nūance brand, with future plans to
include the Green Roads brand, into three core Central American
markets: Costa Rica, the
Dominican Republic and
Panama.
Valens has developed two CBD tinctures for APOTEKA that combine
known wellness ingredients with CBD. The products will be
manufactured by Green Roads and are made with coconut MCT oil. They
come in coconut and peppermint flavor, with added terpenes, and
will be available in two concentrations: 900 and 1500 milligrams of
CBD. Both tinctures have been carefully developed to match the
tastes of local markets.
Tyler Robson, Chief Executive
Officer and Chair of The Valens Company, said, "This partnership
with APOTEKA, part of GFI Costa Rica a multiregional conglomerate
with a 45-year track record, is consistent with our distribution
first, asset light, growth model in international markets. The
partnership represents a strategic expansion into Central America where APOTEKA will be
distributing these products into regions including: Costa Rica, the Dominican Republic and Panama. With limited competition currently in
these markets, and a reputable distribution partner in APOTEKA, we
see a compelling opportunity to further develop an innovative
product portfolio, establish a foothold in the region and expand
our strategy across other Central American countries in the future
as more countries liberalize their cannabis laws."
Australia Market Update
The Company also announced it has secured AUS$540,000 of initial
orders for GMP product from its Australian distribution partner,
Cannvalate PTY Ltd ("Cannvalate"). This follows the Company's
recent announcement that it had secured access to GMP Manufacturing
in Australia through an exclusive
partnership with Epsilon Healthcare, furthering its international
expansion to GMP markets in Latin
America, Europe, UK and the
Asia-Pacific regions.
Jeff Fallows, President of The
Valens Company, said, "We are excited to report our first GMP
production through the Southport
facility, marking our further expansion into the Australian market.
The order represents Valens taking advantage of Epsilon's large
scale GMP manufacturing capability, with the capacity and means to
provide further accelerated access to Europe through their TGA and EU GMP
capabilities. Through Cannvalate's significant local market
presence and leading distribution platform, Valens is well placed
with strategic access to a market we see through recent trends
being poised for dramatic growth."
Valens expects to continue to receive purchase orders of a
similar or greater value under this arrangement on an ongoing
basis, which is representative of the global shift to GMP and EU
GMP production standards that the Company is now able to deliver
through its partnership with Epsilon Healthcare.
At Valens, it's Personal.
About The Valens Company
The Valens Company is a
leading manufacturer of cannabis products with a mission to bring
the benefits of cannabis to the world. The Company provides
proprietary cannabis processing services, in addition to
best-in-class product development, manufacturing, and
commercialization of cannabis consumer packaged goods. The Valens
Company's high-quality products are formulated for the medical,
health and wellness, and recreational consumer segments, and are
offered across all cannabis product categories with a focus on
quality and innovation. The Company also manufactures, distributes,
and sells a wide range of CBD products in the United States through its subsidiary Green
Roads, and distributes medicinal cannabis products to Australia through its subsidiary Valens
Australia. In partnership with brand houses, consumer packaged
goods companies and licensed cannabis producers around the globe,
the Company continues to grow its diverse product portfolio in
alignment with evolving cannabis consumer preferences in key
markets. Through Valens Labs, the
Company is setting the standard in cannabis testing and research
and development with Canada's only
ISO17025 accredited analytical services lab, named The Centre of
Excellence in Plant-Based Science by partner and scientific world
leader Thermo Fisher Scientific. Discover more on The Valens
Company and its subsidiaries at
http://www.thevalenscompany.com.
Notice regarding Forward Looking Statements
All information included in this press release, including any
information as to the future financial or operating performance and
other statements of The Valens Company that express management's
expectations or estimates of future performance, other than
statements of historical fact, 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 relating to the future.
Wherever possible, words such as "plans", "expects", "scheduled",
"trends", "forecasts", "future", "indications", "potential",
"estimates", "predicts", "anticipate", "to establish", "believe",
"intend", "ability to", or statements that certain actions, events
or results "may", "should", "could", "would", "might", "will", or
are "likely" to be taken, occur or be achieved, or the negative of
these words or other variations thereof, have been used to identify
such forward-looking information. Specific forward-looking
statements include, without limitation, all disclosure regarding
future results of operations, future outcomes of transactions,
economic conditions, and anticipated courses of action. Investors
and other parties are advised that there is not necessarily any
correlation between the number of SKUs manufactured and shipped and
revenue and profit, and undue reliance should not be placed on such
information.
The risks and uncertainties that may affect forward-looking
statements include, among others, Canadian regulatory risk,
Australian regulatory risk, U.S. regulatory risk, U.S. border
crossing and travel bans, the uncertainties, effects of and
responses to the COVID-19 pandemic, reliance on licenses, expansion
of facilities, competition, dependence on supply of cannabis and
reliance on other key inputs, dependence on senior management and
key personnel, general business risk and liability, regulation of
the cannabis industry, change in laws, regulations and guidelines,
compliance with laws, limited operating history, vulnerability to
rising energy costs, unfavourable publicity or consumer perception,
product liability, risks related to intellectual property, product
recalls, difficulties with forecasts, management of growth and
litigation, many of which are beyond the control of The Valens
Company. For a more comprehensive discussion of the risks faced by
The Valens Company, and which may cause the actual financial
results, performance or achievements of The Valens Company to be
materially different from estimated future results, performance or
achievements expressed or implied by forward-looking information or
forward-looking statements, please refer to The Valens Company's
latest Annual Information Form filed with Canadian securities
regulatory authorities at www.sedar.com or on The Valens
Company's website at www.thevalenscompany.com. The risks
described in such Annual Information Form are hereby incorporated
by reference herein. Although the forward-looking statements
contained herein reflect management's current beliefs and
reasonable assumptions based upon information available to
management as of the date hereof, The Valens Company cannot be
certain that actual results will be consistent with such
forward-looking information. The Valens Company cautions you not to
place undue reliance upon any such forward-looking statements. The
Valens Company disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable law. Nothing herein should be construed as either an
offer to sell or a solicitation to buy or sell securities of The
Valens Company.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/the-valens-company-announces-strategic-distribution-agreement-with-apoteka-srl-part-of-gfi-costa-rica--provides-australia-update-301379118.html
SOURCE The Valens Company Inc.