The Valens Company Begins Manufacturing Cannabis-Infused Beverages at Greater Toronto Area Facility & Signs Manufacturing Partnership
The first shipment of beverages has shipped to Ontario and purchase orders for British Columbia, Alberta Manitoba, and Yukon are expected to be fulfilled in the coming days
KELOWNA, BC, Feb. 10, 2022 /CNW/ – The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) (the “Company” “The Valens Company” or “Valens”), a leading manufacturer of cannabis products, today announced the successful commissioning and completion of first shipments from Pommies (otherwise known as Southern Cliff Brands) located in the Greater Toronto Area (the “GTA Facility”). The 30,000 square feet GTA Facility received a micro-processing license from Health Canada to begin production and manufacturing of cannabis-infused beverages in November 2021.
The first shipment was shipped to Ontario at the end of January and purchase orders for British Columbia, Alberta Manitoba, and Yukon are expected to be fulfilled in the coming days.
“The GTA Facility is highly automated and built to fulfill today’s growing volumes while significantly bolstering our strategic potential by providing us with the operational footprint and expertise to make Valens the go-to name in cannabis-infused beverages in Canada,” said Tyler Robson, Chief Executive Officer and Chairman of The Valens Company. “We are expanding our branded beverage offering with the introduction of new exciting formats and flavours which will be coming to market over the next few quarters as well as expanding relationships with new and existing B2B partnerships to further fill capacity.”
The GTA Facility has the capacity to manufacture more than 8 million units per year of cannabis-infused beverages in a single shift in both resealable cans and PET bottles across various sizes and formats. Products developed and manufactured in the GTA Facility will utilize Valens’ powered by SōRSE™ emulsion technology, resulting in consumer products that are free of cannabis taste and aroma and have predictable onset and offset timing. The Valens R&D team has been active in formulating a number of new products and is excited to introduce its innovative pipeline to the Canadian consumer in 2022.
As beverages become mainstream in the ready-to-drink product category, Valens continues to build on its industry-leading market share in the category with the addition of exciting new offerings from:
A1 Beverage (355 ml bottles):
- 10mg Summit THC Raspberry Lemonade
- 10mg Summit THC Peach Lemonade
Versus (355 ml cans):
- 10mg THC Black Cherry Seltzer
- 10mg THC Lime Seltzer
- 10mg THC Grapefruit Seltzer
- 10mg THC Mango Seltzer
The Valens Company is also pleased to announce it has entered into its first beverage manufacturing agreement since the launch of the Pommies facility to produce a customized line of beverages for the Canadian market under an expanded agreement with an existing licensed producer partnership.
Robson noted “Valens has worked in close collaboration with cannabis enthusiasts to bring to market a selection of fresh new beverages made with natural flavours in a ready-to-drink format that appeal to both connoisseurs and first-time consumers.”
At Valens, it’s Personal.
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 Valens 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 product development and custom 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 Valens 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 https://thevalenscompany.com. The Valens Company’s investor deck can be found specifically at https://thevalenscompany.com/investors/.
For further information, please contact:
The Valens Company
KCSA Strategic Communications
Phil Carlson / Elizabeth Barker
1 212.896.1233 / 1 212.896.1203
KCSA Strategic Communications
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 bans, 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.