- This launch demonstrates The Valens Company's ability to
execute and be first to market in Ontario for cannabis-infused beverages,
proving its commitment to delivering trusted Cannabis 2.0 products
to its partners and the Canadian market.
- Under a white label agreement with A1 Cannabis Company (a
subsidiary of Iconic Brewing), The Valens Company to provide
high-quality cannabis extracts, formulation services, and SōRSE™
emulsion technology IP; A1 Cannabis Company to brand and market the
beverages across Canada.
- New line of beverages includes BASECAMP, a CBD-forward iced
tea, to be available at select retailers in Ontario in the coming days, and SUMMIT, a
THC-forward citrus water, to follow in the coming weeks.
KELOWNA, B.C., March 5, 2020 /CNW/ - Valens GroWorks
Corp. (TSXV: VLNS) (OTCQX: VLNCF)
(the "Company", "Valens" or "The Valens
Company"), a global leader in the end-to-end development
and manufacturing of innovative, cannabinoid-based products, today
announced the launch of a line of cannabis-infused beverages,
produced under a white label agreement with A1 Cannabis Company (a
subsidiary of Iconic Brewing). The launch demonstrates Valens'
leadership and excellence in the development and manufacturing of
Cannabis 2.0 products, as the Company continues to successfully
commercialize cannabis-infused beverages within the Canadian
market.
The new line of beverages includes BASECAMP, a CBD-forward iced
tea, and SUMMIT, a THC-forward citrus water. BASECAMP will be
available at select retailers throughout Ontario in the coming days, with additional
markets expected to follow. SUMMIT is expected to be available at
select stores in the coming weeks.
SUMMIT and BASECAMP were developed using the SōRSE by Valens
emulsion technology which transforms cannabis oil into
water-soluble forms for use in beverages, edibles, topicals and
other consumer products while eliminating cannabis taste, colour or
smell. The technology provides a number of advantages including
faster observed onset times compared to other infused beverages and
edibles; a significant reduction of offset time; an ability to use
lower doses of cannabinoids due to enhanced bioavailability; and
increased consistency and stability with the potential to achieve
more than one-year shelf life.
"Our agreement with A1 demonstrates the strategic value of
partnering with leading companies that share our vision and
reinforces our commitment to launching the Cannabis 2.0 products
that consumers are looking for," said Tyler
Robson, CEO of Valens. "This is the next step in the
execution of our strategy to introduce innovative, high-quality
products that deliver safe and customized user experiences."
The Canadian market for cannabis beverages is growing rapidly,
and according to a report by Deloitte, it is expected to reach
C$529 million on an annual basis.
Additionally, the firm projects that in Canada alone, consumers are expected to spend
C$1.6 billion annually on cannabis
extract-based products (including beverages).
Cole Miller, CEO and Founder of
A1 Cannabis Company, said, "We are incredibly proud to introduce
the SUMMIT and BASECAMP beverages in partnership with Valens, and
are fully confident that they will meet the taste and quality
expectations of Canadian consumers who have been waiting eagerly
for cannabis-infused beverages."
Under the terms of the white label agreement between Valens and
A1 Cannabis Company, a minimum of 2.5 million cannabis-infused
beverages will be produced over five years, with the opportunity to
expand on the partnership with new product offerings in the near
future.
About The Valens Company
The Valens Company is a global leader in the end-to-end
development and manufacturing of innovative, cannabinoid-based
products. The Company is focused on being the partner of choice for
leading Canadian and international cannabis brands by providing
best-in-class, proprietary services including CO2, ethanol,
hydrocarbon, solvent-less and terpene extraction, analytical
testing, formulation and white-label product development and
manufacturing. Valens is the largest third-party extraction Company
in Canada with an annual capacity
of 425,000 kg of dried cannabis and hemp biomass at our
purpose-built facility in Kelowna,
British Columbia which is in the process of becoming
European Union (EU) Good Manufacturing Practices (GMP) compliant.
The Valens Company currently offers a wide range of product
formats, including tinctures, two-piece caps, soft gels, oral
sprays and vape pens as well as beverages, concentrates, topicals,
edibles, injectables, natural health products and has a strong
pipeline of next-generation products in development for future
release. Finally, the Company's wholly-owned subsidiary
Valens Labs is a Health Canada
licensed ISO 17025 accredited cannabis testing lab providing
sector-leading analytical services and has partnered with Thermo
Fisher Scientific to develop a Centre of Excellence in Plant-Based
Science. For more information, please visit
http://thevalenscompany.com. The Company's investor deck can be
found specifically at
http://thevalenscompany.com/investors/.
About A1 Cannabis Company (a subsidiary of Iconic Brewing
Company)
Headquartered in Toronto,
Ontario, Iconic Brewing Company has current beverage alcohol
distribution across Canada and has
quickly emerged as a leader in Canada's "Better For You" beverage alcohol
space, with brands such as Cottage Springs Vodka Soda and Liberty
Village Dry Cider. Iconic Brewing has leveraged this success to
create A1 Cannabis Company. Founded on the same principles, A1
Cannabis Company shares the same mission: to create better-for-you
cannabis products, built for the healthy and active consumer.
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", "indications", "potential", "estimates", "predicts",
"anticipate", "to establish", "believe", "intend", "ability to", or
statements that certain actions, events or results "may", "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,
economic conditions and anticipated courses of action.
The risks and uncertainties that may affect forward-looking
statements include, among others, regulatory risk,
United States border crossing and
travel ban, 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, reliance on a single facility, 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.
The TSXV or other regulatory authority has not reviewed,
approved or disapproved the contents of this press release. We seek
Safe Harbour.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/the-valens-company-launches-white-label-cannabis-infused-beverages-in-canada-301016936.html
SOURCE The Valens Company
