The first shipment of beverages has shipped to
Ontario and purchase orders for
British Columbia, Alberta
Manitoba, and Yukon are expected
to be fulfilled in the coming days
KELOWNA, BC, Feb. 10, 2022 /PRNewswire/ - The Valens Company
Inc. (TSX: VLNS) (Nasdaq: VLNS) (the "Company" "The Valens
Company" or "Valens"), a leading manufacturer of cannabis products,
today announced the successful commissioning and completion of
first shipments from Pommies (otherwise known as Southern Cliff
Brands) located in the Greater Toronto
Area (the "GTA Facility"). The 30,000 square feet GTA
Facility received a micro-processing license from Health
Canada to begin production and manufacturing of
cannabis-infused beverages in November
2021.
The first shipment was shipped to Ontario at the end of January and
purchase orders for British
Columbia, Alberta Manitoba, and Yukon are expected to be fulfilled in the
coming days.
"The GTA Facility is highly automated and built to fulfill
today's growing volumes while significantly bolstering our
strategic potential by providing us with the operational footprint
and expertise to make Valens the go-to name in cannabis-infused
beverages in Canada," said
Tyler Robson, Chief Executive
Officer and Chairman of The Valens Company. "We are expanding our
branded beverage offering with the introduction of new exciting
formats and flavours which will be coming to market over the
next few quarters as well as expanding relationships with new and
existing B2B partnerships to further fill capacity."
The GTA Facility has the capacity to manufacture more than 8
million units per year of cannabis-infused beverages in a single
shift in both resealable cans and PET bottles across various sizes
and formats. Products developed and manufactured in the GTA
Facility will utilize Valens' powered by SōRSE™ emulsion
technology, resulting in consumer products that are free of
cannabis taste and aroma and have predictable onset and offset
timing. The Valens R&D team has been active in formulating a
number of new products and is excited to introduce its innovative
pipeline to the Canadian consumer in 2022.
As beverages become mainstream in the ready-to-drink product
category, Valens continues to build on its industry-leading market
share in the category with the addition of exciting new offerings
from:
A1 Beverage (355 ml bottles):
- 10mg Summit THC Raspberry Lemonade
- 10mg Summit THC Peach Lemonade
Versus (355 ml cans):
- 10mg THC Black Cherry Seltzer
- 10mg THC Lime Seltzer
- 10mg THC Grapefruit Seltzer
- 10mg THC Mango Seltzer
The Valens Company is also pleased to announce it has entered
into its first beverage manufacturing agreement since
the launch of the Pommies facility to produce a customized
line of beverages for the Canadian market under an expanded
agreement with an existing licensed producer partnership.
Robson noted "Valens has worked in close collaboration with
cannabis enthusiasts to bring to market a selection of fresh
new beverages made with natural flavours in a ready-to-drink format
that appeal to both connoisseurs and first-time
consumers."
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 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.
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SOURCE The Valens Company Inc.