Kelowna,
BC, May 25, 2022 /CNW/ - The Valens Company
Inc. (TSX: VLNS) (Nasdaq: VLNS) (the "Company" "The Valens
Company" or "Valens"), a leading manufacturer of branded cannabis
products, is pleased to provide an update on its recent
recreational market share in Canada.
![The Valens Company Inc. logo (CNW Group/The Valens Company Inc.) The Valens Company Inc. logo (CNW Group/The Valens Company Inc.)](https://mma.prnewswire.com/media/1825519/The_Valens_Company_Inc__The_Valens_Company_Continues_to_Expand_C.jpg)
Tyler Robson, Chief Executive
Officer of The Valens Company, said, "We continue to expand our
recreational market share as we develop strength within our brand
portfolio through products that continue to resonate with
consumers. Furthermore, Valens was the fastest growing company
among the top ten licensed producers by market share, seeing retail
sales growth of 53.8% from November
2021 to April 2022 based on
Hifyre data in Ontario,
Alberta, British Columbia, and Saskatchewan. Importantly, we were able to
grow our market share across all product categories and overall
market share increased by 90 basis points from 2.5% in November 2021 to 3.4% in April 2022. We continue to grow faster than the
average of our top ten competitors who collectively saw their
market share decline over the same period. In short, we are on
track to hit our 2022 objectives to become a top five player in
vapes, edibles and beverages and a top ten player in flower
products by year end."
Valens Market Share Summary:
|
November
2021
|
April
2022
|
Retail Sales
Growth1
|
Major
Markets2
|
2.5%
|
3.4%
|
53.8%
|
Cannabis 1.0 Market Share Update2:
- Versus BC God Bud #1 best-selling SKU for four consecutive
months in 2022 among all product categories in Ontario, Alberta, British
Columbia, and Saskatchewan
- Launched Contraband infused pre-roll, Big Willie and Versus
Super Lemon Haze Jar of J's in May
2022, which further positions Valens for potential market
share growth in the pre-roll category in Q3
|
Rank
|
Objective
2022
|
April
2022
|
Retail Sales
Growth1
|
Flower
|
#8
|
Top
10
|
3.2%
|
69.7%
|
Pre-Roll
|
#13
|
Top
10
|
2.0%
|
61.8%
|
Cannabis
1.0
|
|
|
3.3%
|
67.8%
|
Cannabis 2.0 Market Share Update2:
- Versus Seltzers are now among the fastest growing
cannabis-infused beverages with 505% provincial sales growth and
2.86% combined market share in Ontario, Alberta, British
Columbia, and Saskatchewan
since launching in January 2022
- Launched two new flavours of Versus Seltzers, Mango and Ruby
Grapefruit in May 2022 arriving just
in time for the summer season
- Launched 4 of the most affordable vape SKUs in the market under
our Versus brand (Peach Dream, Dank Berry, Mad Mango, and Loud
Lemon) which further positions Valens for potential market share
growth in the vape category in Q3
|
Rank
|
Objective
2022
|
April
2022
|
Retail Sales
Growth1
|
Edibles
|
#9
|
Top 5
|
3.2%
|
47.8%
|
Vape
|
#7
|
Top 5
|
3.8%
|
28.6%
|
Beverage
|
#4
|
Top 5
|
10.8%
|
41.9%
|
Cannabis
2.0
|
|
|
4.2%
|
34.5%
|
At Valens, it's Personal.
Sources:
|
1 Retail
sales growth from November 2021 to April 2022, as per Hifyre data
as of May 10th
|
2 Hifyre
data as of May 10th in Ontario, Alberta, British
Columbia, and Saskatchewan, not including any B2B LP
Sales
|
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. 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 at
http://www.thevalenscompany.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.