KELOWNA, BC, Dec. 22, 2021 /PRNewswire/ - The Valens
Company Inc. (NASDAQ: VLNS) (TSX: VLNS) (the "Company" or "The
Valens Company"), a leading manufacturer of cannabis products,
announces it has entered into a manufacturing partnership with
Montreal Cannabis Médical Inc. ("MTL" or "MTL Cannabis") to provide
manufacturing and extraction services for MTL's pre-rolls and
vapes.
Valens expects the contract to begin at the end of the first
quarter of fiscal 2022.
MTL is a flower first company cmmitted to bringing craft
cannabis to the masses through a five-step process that includes an
award-winning hydroponic system, hang-drying, and hand-trimming.
With industry-leading yields, MTL offers high quality cannabis at a
competitive price point. Since its adult-use market launch in
October 2020, MTL Cannabis has
emerged as one of Canada's
fastest-growing dried flower consumer brands, placing in the top
five in dried flower sales in most provinces.
"MTL has demonstrated the kind of success, consistency and
quality that The Valens Company looks for in a partner," said
Tyler Robson, CEO of The Valens
Company. "We are excited to expand our presence with one of the
fastest growing and reputable flower consumer brands in
Canada."
"Valens not only has one of the broadest ranges of manufacturing
capabilities but also shares the same commitment to consumers and
quality that we do," said Richard
Clement, CEO of MTL Cannabis. "We look forward to working
with Valens to expand our offering for consumers in a greater
variety of formats."
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 and its subsidiaries at
http://www.thevalenscompany.com.
About MTL
MTL Cannabis is a privately-owned Canadian
Licence Holder located in Montreal, Quebec. As a flower-first company built for
the modern street, MTL Cannabis is a 57,000 sq ft licensed facility
with room to expand to 130,000 sq ft in the existing 2 buildings
and possible expansion to over 300,000 sq ft. Under the existing
footprint, the indoor facility uses proprietary hydroponic growing
methodologies supported by handcrafted techniques to produce
products that are truly craft for the masses. MTL Cannabis
currently produces over 13,000 kgs annually, yielding over 2kg per
light. With supply deals in nine Canadian provinces, the company
consistently hits top 5 in dried flower sales. MTL is the recipient
of the Grow Up Awards 'Craft Grower of the Year' and 'Best
Hydroponic System' and KIND Magazine's Budtenders Choice for
'Sativa of the Year' for its signature strain, Sage n' Sour.
MTL Cannabis' goal has been clear from the start, be the brand
that brings the best of the street to the shelves by staying
committed to the craft. Please
visit http://www.mtlcannabis.ca/
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, that the potential benefits of
the Consolidation, including the effect on the Company's
application to list its Common Shares on the NASDAQ, will not be
achieved, 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.