KELOWNA, BC, March 11, 2021 /CNW/ - The Valens Company
Inc. (TSX: VLNS) (OTCQX: VLNCF) (the "Company," "The
Valens Company" or "Valens"), a leading
manufacturer of cannabis products, today announced that it has
entered into a custom manufacturing agreement with Experion
Biotechnologies Inc. (TSX-V: EXP) (OTCQB: EXPFF)
("Experion"), a partner of the Company's recently acquired
LYF Food Technologies Inc. ("LYF"). Experion is a licensed
cultivator, processor and brand builder with a portfolio of premium
products.
Under the agreement, Valens will provide end-to-end pre-roll
manufacturing and product distribution services to Experion – the
Company's first custom manufacturing agreement of this nature
following the receipt of its Health Canada licence amendment to
sell dried cannabis products. In partnership, Valens and Experion
will expand the pre-roll offering for Experion's popular Citizen
Stash brand, which is focused on providing consumers the highest
quality handcrafted, small batch cannabis.
"We are excited to kick off our pre-roll manufacturing services
with the commencement of our agreement with Experion and expedite
the entry of Valens-manufactured dried cannabis products into the
Canadian market," said Tyler Robson,
Chief Executive Officer, Co-Founder and Chair of The Valens
Company. "Citizen Stash is synonymous with best-in-class
products and we are proud to be chosen as a partner who can deliver
on customized and premium quality products for the brand."
"We are pleased to work with Valens as this partnership will
allow Experion to expand production to facilitate broader consumer
access to our award-winning Citizen Stash products," stated
Jarrett Malnarich, Chief Executive
Officer of Experion Biotechnologies. "Partnering with an
industry leader such as Valens allows us to immediately multiply
our capacity and positions us to quickly develop next generation
product lines. We believe this relationship demonstrates to the
market that we are laser-focused on driving revenue by expanding
our capacity to deliver premium cannabis products across
Canada."
The terms of the agreement support a minimum two-year
partnership with monthly minimum order quantities. Valens and
Experion are in continued discussions to expand the existing
agreement to include additional product development and custom
manufacturing services for a range of next generation products
beyond gummies, which are currently being manufactured at the LYF
facility, and pre-rolls. There is, however, no assurance that any
such deal would be reached.
Additionally, on March 5, 2021,
Valens announced the closing of its acquisition of LYF. In
connection with the LYF acquisition and per the requirements of the
Toronto Stock Exchange, Valens carries out its operations in
compliance with the applicable laws of each jurisdiction in which
the Company operates with respect to the cultivation, distribution,
sale, or possession of cannabis (including laws applicable to
anti-money laundering) to the extent applicable to the activities
being undertaken by the Company in such jurisdiction.
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.
About Experion Biotechnologies
Experion Holdings Ltd.
is the parent company of Experion Biotechnologies Inc., a Health
Canada licensed cultivator and processor of Cannabis, based in
Mission, BC. Experion Holdings
Ltd. is invested in a portfolio of products to address a wide
spectrum of consumer needs' including Adult-use, Wellness and
Therapeutic, and Medical products. Experion trades on the TSX
Venture Exchange as a Tier 1 issuer under the symbol "EXP" on the
OTCQB Venture under the symbol "EXPFF" and on the Frankfurt Stock
Exchange under the symbol "MB31".
For further information, please visit the Company's website
www.experionwellness.com or contact Investor Relations, Email:
IR@experionwellness.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.