KELOWNA, BC, Nov. 22, 2021 /PRNewswire/ – The Valens Company Inc. (TSX: VLNS) (OTCQX: VLNCF) (the “Firm,” “The Valens Firm” or “Valens”), a number one producer of hashish merchandise, right this moment introduced that Pommies (in any other case generally known as Southern Cliff Manufacturers) has been issued a micro-processing licence from Well being Canada for its manufacturing facility positioned within the Better Toronto Space (the “GTA Facility”). With this licence, Valens lively manufacturing platform now extends from Western to Japanese Canada, rising speed-to-market capabilities whereas optimizing distribution cost-savings and efficiencies.
The GTA Facility gives Valens with a further 30,000 sq. ft of licensed manufacturing and manufacturing house to execute on its cannabis-infused beverage commercialization and distribution technique. The power can help 8 million items per yr on a single shift and may produce cannabis-infused drinks in each cans and PET bottles throughout numerous sizes and codecs together with carbonated and non-carbonated juices and waters, drops and single pictures. The power is true sized for the Canadian hashish business right this moment and was designed with ample house for growth if and when required, with minimal further capital expenditures. The power is strategically positioned north of Toronto and close to Pearson Worldwide Airport. This positioning gives for optimum delivery into Canada’s largest markets whereas using vital quantities of automation. That is anticipated to boost margins on drinks as they’re presently being manufactured out of Valens’ Kelowna campus in Western Canada.
Merchandise developed and manufactured within the GTA facility will make the most of Valens’ powered by SōRSE™ emulsion expertise, leading to client merchandise which can be freed from hashish style and aroma with predictable onset and offset timing. Valens R&D group has been lively in formulating new merchandise quickly to be out there within the Canadian market and is happy to introduce its modern pipeline into the beverage and different 2.0 and three.0 classes.
In Q3 2021, Valens’ estimated share of the cannabis-infused beverage class grew to roughly 9.0% from 5.5% in Q1 2021 in Alberta, British Columbia, and Ontario, based mostly on Hifyre information, with just one buyer on this class to this point. Upon commencing business operations on the GTA Facility, Valens will search to develop its market share within the beverage class by accelerating the penetration of its inner model portfolio, rising its partnership community and increasing its product portfolios with present prospects.
“Regardless of delays brought on by the pandemic, now we have achieved a significant milestone in our home growth technique with the receipt of this micro-processing licence,” stated Tyler Robson, Chief Govt Officer, Co-Founder, and Chair of The Valens Firm. “As one of many first firms to launch cannabis-infused drinks in Canada, we rapidly discovered what was required to reach the class – high quality and innovation. We’ve got been working tirelessly to strengthen our sources and capabilities to proceed efficiently serving the cannabis-infused beverage market in Canada. With the flexibility to make the most of the GTA Facility, we’re able to put our greatest foot ahead and lead the class with a wide range of thrilling new merchandise which will likely be out there to our prospects and shoppers over the approaching quarters.”
All manufacturing tools on the GTA Facility is totally operational and is anticipated to be commissioned within the coming weeks. Valens expects to start manufacturing, commercializing and delivery merchandise from the GTA Facility within the first fiscal quarter of 2022 and anticipates a rise in utilization over 2022 because the demand for its merchandise continues to develop. Moreover, Pommies expects to imminently submit a gross sales licence software for the GTA Facility.
The micro-processing licence was issued in accordance with the Hashish Act and Hashish Laws and was based mostly on the approval of the location proof bundle that was submitted earlier this yr in February.
At Valens, it is Private.
About The Valens Firm
The Valens Firm is a number one producer of hashish merchandise with a mission to convey the advantages of hashish to the world. The Firm gives proprietary hashish processing providers, along with best-in-class product improvement, manufacturing, and commercialization of hashish client packaged items. The Valens Firm’s high-quality merchandise are formulated for the medical, well being and wellness, and leisure client segments, and are supplied throughout all hashish product classes with a give attention to high quality and innovation. The Firm additionally manufactures, distributes, and sells a variety of CBD merchandise in the US by way of its subsidiary Inexperienced Roads, and distributes medicinal hashish merchandise to Australia by way of its subsidiary Valens Australia. In partnership with model homes, client packaged items firms and licensed hashish producers across the globe, the Firm continues to develop its various product portfolio in alignment with evolving hashish client preferences in key markets. By means of Valens Labs, the Firm is setting the usual in hashish testing and analysis and improvement with Canada’s solely ISO17025 accredited analytical providers lab, named The Centre of Excellence in Plant-Based mostly Science by accomplice and scientific world chief Thermo Fisher Scientific. Uncover extra on The Valens Firm at http://www.thevalenscompany.com.
Discover relating to Ahead Wanting Statements
All data included on this press launch, together with any data as to the long run monetary or working efficiency and different statements of The Valens Firm that specific administration’s expectations or estimates of future efficiency, apart from statements of historic truth, represent forward-looking data or forward-looking statements throughout the that means of relevant securities legal guidelines and are based mostly on expectations, estimates and projections as of the date hereof. Ahead-looking statements are included for the aim of offering details about administration’s present expectations and plans referring to the long run. Wherever doable, phrases equivalent to “plans”, “expects”, “scheduled”, “tendencies”, “forecasts”, “future”, “indications”, “potential”, “estimates”, “predicts”, “anticipate”, “to ascertain”, “consider”, “intend”, “potential to”, or statements that sure actions, occasions or outcomes “could”, “ought to”, “may”, “would”, “may”, “will”, or are “seemingly” to be taken, happen or be achieved, or the destructive of those phrases or different variations thereof, have been used to establish such forward-looking data. Particular forward-looking statements embody, with out limitation, all disclosure relating to future outcomes of operations, future outcomes of transactions, financial situations, and anticipated programs of motion. Traders and different events are suggested that there’s not essentially any correlation between the variety of SKUs manufactured and shipped and income and revenue, and undue reliance shouldn’t be positioned on such data.
The dangers and uncertainties that will have an effect on forward-looking statements embody, amongst others, Canadian regulatory danger, Australian regulatory danger, U.S. regulatory danger, U.S. border crossing and journey bans, the uncertainties, results of and responses to the COVID-19 pandemic, reliance on licenses, growth of amenities, competitors, dependence on provide of hashish and reliance on different key inputs, dependence on senior administration and key personnel, normal enterprise danger and legal responsibility, regulation of the hashish business, change in legal guidelines, laws and tips, compliance with legal guidelines, restricted working historical past, vulnerability to rising power prices, unfavourable publicity or client notion, product legal responsibility, dangers associated to mental property, product recollects, difficulties with forecasts, administration of progress and litigation, lots of that are past the management of The Valens Firm. For a extra complete dialogue of the dangers confronted by The Valens Firm, and which can trigger the precise monetary outcomes, efficiency or achievements of The Valens Firm to be materially totally different from estimated future outcomes, efficiency or achievements expressed or implied by forward-looking data or forward-looking statements, please check with The Valens Firm’s newest Annual Data Type filed with Canadian securities regulatory authorities at www.sedar.com or on The Valens Firm’s web site at www.thevalenscompany.com. The dangers described in such Annual Data Type are hereby included by reference herein. Though the forward-looking statements contained herein replicate administration’s present beliefs and cheap assumptions based mostly upon data out there to administration as of the date hereof, The Valens Firm can’t be sure that precise outcomes will likely be according to such forward-looking data. The Valens Firm cautions you to not place undue reliance upon any such forward-looking statements. The Valens Firm disclaims any intention or obligation to replace or revise any forward-looking statements whether or not because of new data, future occasions or in any other case, besides as required by relevant legislation. Nothing herein needs to be construed as both a suggestion to promote or a solicitation to purchase or promote securities of The Valens Firm.
SOURCE The Valens Firm Inc.