Agreement with one of the top five Canadian LPs includes pre-roll manufacturing and represents the largest contract for Valens in this category to date1
KELOWNA, BC, Aug. 30, 2021 /PRNewswire/ – The Valens Company Inc. (TSX: VLNS) (OTCQX: VLNCF) (the “Company,” “The Valens Company” or “Valens”), a leading manufacturer of cannabis products, announced today that it has broadened its existing agreement with a leading licensed producer (top five in Canada by market share) to include custom manufacturing of cannabis products.1
Under the terms of the agreement, the licensed producer will draw on Valens’ full suite of product manufacturing capabilities to supply the Canadian market with a range of cannabis products in various categories across several of the LP’s award-winning brands. The expanded agreement supersedes the previous extraction services agreement between the two companies and marks the largest pre-roll manufacturing agreement to date for The Valens Company.
The expansion of this agreement signifies a very meaningful partnership between two of the country’s leading cannabis companies with a collective passion of bringing Canadians the highest quality cannabis products.
Tyler Robson, Chief Executive Officer, Chair, and Co-Founder of The Valens Company
The pre-roll category is currently one of the largest and fastest-growing segments in the Canadian cannabis market and we are incredibly excited to sign our largest agreement to date in this category with a longtime, trusted partner. We look forward to expanding this relationship in the future.
At Valens, it’s Personal.
1Hifyre data for the markets of Ontario, Alberta and British Columbia during March to May 2021
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 and its subsidiaries at http://www.thevalenscompany.com.
Original press release