Licence will allow Valens to sell and distribute pre-rolls and dried cannabis derivative products, expected to begin in Q2 2021
Kelowna, BC, Feb. 12, 2021 /CNW/ - The Valens Company Inc. (TSX: VLNS) (OTCQX: VLNCF) (the "Company," "The Valens Company" or "Valens"), a leading manufacturer of cannabis derivative products, has received an amendment to its existing Health Canada standard processing licence permitting the sale of dried cannabis products to authorized provincial and territorial retailers in Canada. This licence amendment allows The Valens Company to distribute next generation dried cannabis derivative products across the country, increasing the Company's total addressable market.
Pre-rolls and dried cannabis derivative products will be the latest additions to the Company's growing portfolio of in-demand offerings, which includes a variety of cannabis extract products such as vapes, concentrates, edibles, beverages, and topicals. With this new licence, The Valens Company can now offer a complete range of products to its customers in the Canadian recreational cannabis market.
"At the request of our partners we are increasing our product offering to include pre-rolls and next generation dried cannabis products," said Tyler Robson, Chief Executive Officer, Co-Founder and Chair of The Valens Company. "We believe that this licence, paired with our low-cost platform, will drive a competitive advantage for our partners in a category with price sensitive consumers."
With access to competitively priced fresh and dried cannabis sources, Valens is strongly positioned to develop and manufacture the highest-quality dried cannabis derivative products at a category shaping value proposition. A variety of pre-roll formats, in numerous blends and sizes, are currently under development at Valens' newly-operational K2 facility located in Kelowna, British Columbia.
About The Valens Company
The Valens Company is a leading manufacturer of cannabis derivative products with a mission to bring the benefits of cannabis to the world. The Company provides proprietary cannabis processing services across five core technologies, in addition to best-in-class product development, formulation and manufacturing of cannabis consumer packaged goods. The Valens Company's high-quality products are exclusively formulated for the medical, therapeutic, health and wellness, and recreational consumer segments, and are offered across numerous product formats, including oils, vapes, concentrates, edibles and topicals, as well as pre-rolls, with a focus on next-generation product development and innovation. Its breakthrough patented emulsification technology, SōRSE™ by Valens, converts cannabis oil into water-soluble emulsions for seamless integration into a variety of product formats, allowing for near-perfect dosing, stability, and taste. 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 its wholly owned subsidiary Valens Labs Ltd., 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.
Source The Valens Company Inc.
Jeff Fallows, The Valens Company, Investor Relations, firstname.lastname@example.org, 1 647.956.8254
KCSA Strategic Communications, Phil Carlson / Elizabeth Barker, VLNS@kcsa.com, 1 212.896.1233 / 1 212.896.1203
KCSA Strategic Communications, Anne Donohoe, email@example.com, 1 212.896.1265