Value brand 'Versus' and ultra-premium brand
'Contraband' are part of a multi-step strategy to better meet the
needs of target consumers and grow the Valens adult recreational
market portfolio
KELOWNA, BC, Jan. 25, 2022 /PRNewswire/ - The Valens Company
Inc. (TSX: VLNS) (Nasdaq: VLNS)) (the "Company" "The Valens
Company" or "Valens"), a leading manufacturer of cannabis products,
is pleased to announce the launch of Versus, an evolution of its
Verse value brand. The launch involves the introduction of two net
new Versus product lines this week, plus a rebranding of the full
Verse portfolio this spring, for a total of approximately 20 SKUs
across product categories. Consumers interested in finding out more
about Versus and its line of products can go here. Valens is also
launching its new ultra-premium brand, Contraband, this week with
two sizes of CNDYLND flower, consumers interested in finding out
more about Contraband can go here.
This repositioning and expansion mark the beginning of a
strategic, multi-step plan to grow the Valens brand portfolio into
one of the top performers in the adult recreational market. The
Versus launch follows Valens' acquisition of Verse Cannabis in
September 2021, which, with its
acquisition of Citizen Stash, propelled Valens into a top-tier
market share position in Canada,
while remaining a partner-of-choice for third-party custom
manufacturing partners.
"The acquisition of Verse was critical because it got us a wide
base of listings in seven provinces, across multiple categories, in
the very important value-priced segment," said Tyler Robson, Chief Executive Officer and Chair
of The Valens Company. "Relaunched as Versus, it will be the
challenger that isn't afraid to go toe-to-toe with every value
brand competitor, and we're confident that it will come out on top
in terms of product quality and consumer satisfaction."
"Valens is uniquely positioned to succeed with Versus because
we're an innovation powerhouse," Robson continued. "To thrive in
value, you must to be super agile and get new products and formats
out very quickly, and that's what we're all about." The new brand
addresses feedback from consumers and budtenders, and uses
simplified, bold packaging and logos that convey the 'fighting
spirit' of Versus.
Cannabis and urban music, fashion and art has always been
closely intertwined. Contraband was born out of that existing
connection, which has fueled so many great works of cultural
creativity. With our founder a huge supporter of that culture, we
also wanted to also pay homage to the long legacy left by the
original cannabis cultivators and disruptors who created the
conditions that led to today's legal market. That is the origin of
Contraband – a product that was once illegal is now legal but still
a catalyst for great music, art, and fashion. As we develop the
brand, we plan to contribute to the development of those areas of
culture in a legal and responsible way. By leveraging Citizen
Stash's catalogue of premium genetics Valens will add a new line of
ultra-premium products, expanding its reach to a new, more
discerning consumer in this fast growing, high value segment.
CNDYLND flower in two sizes (3.5g and 14g) will be the first
launches, beginning in Ontario,
followed later this year by pre-rolls, concentrates, and vapes.
"Winning in the value price point across multiple categories
will give us a solid foundation," said Robson. "From there,
Contraband is part of our strategy to build an ultra-premium brand
offering, and ultimately create one of the most comprehensive and
effective portfolios in the marketplace".
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.