Two of the largest certified organic producers
in Canada come together to bring
innovative and
high-quality products to market
KELOWNA, BC, March 3, 2021 /CNW/ - The Valens Company Inc.
(TSX: VLNS) (OTCQX: VLNCF) (the "Company," "The
Valens Company" or "Valens"), a leading manufacturer
of cannabis products, today announced that it has entered into an
extraction and custom manufacturing agreement with Rubicon
Organics, a Canadian licensed producer of high-quality, organic
certified, sustainably grown cannabis. Rubicon Organics boasts a
robust portfolio of recreational brands that meet the diversified
needs of consumers, including super-premium Simply Bare Organic,
flower-based 1964 Supply Co., in addition to concentrate-focused
Lab Theory.
Under the terms of the agreement, Valens will have the
opportunity to leverage its full complement of proprietary
extraction capabilities, including organic certified CO2, ethanol,
and other extraction technologies, to deliver customized consumer
experiences in a variety of 2.0 products under the Rubicon Organics
portfolio. Additionally, the custom manufacturing agreement
provides a platform for collaboration, new product development and
innovation to bring next generation formats to the market, allowing
Valens to further expand its industry-leading portfolio of product
manufacturing capabilities.
"The Rubicon Organics team has a strong and proven track record
of success with their flower business and we are confident they
will enjoy the same success in other product categories," said
Tyler Robson, Chief Executive
Officer, Co-Founder and Chair of The Valens Company. "At the heart
of this agreement is a true partnership and both parties are eager
to get down to work on innovation to bolster Rubicon Organics'
product portfolio and bring certified organic, high-quality 2.0
products to the Canadian market. We are especially pleased to be
working with a supply partner that can meet our strict requirements
for laboratory controls, quality and reliability."
"This agreement will enable Rubicon Organics to accelerate the
launch of our organic certified 2.0 innovation pipeline, providing
our consumers with the best cannabis products in Canada, and growing our share of the premium
and super premium cannabis category," said Jesse McConnell, Chief Executive Officer of
Rubicon Organics.
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 across five core technologies, in addition to
best-in-class product development, formulation and manufacturing of
cannabis consumer packaged goods. The Valens Company's high-quality
products are exclusively formulated for the medical, therapeutic,
health and wellness, and recreational consumer segments, and are
offered across numerous product formats, including oils, vapes,
concentrates, edibles and topicals, as well as pre-rolls, with a
focus on next-generation product development and innovation. Its
breakthrough patented emulsification technology, SōRSE™ by Valens,
converts cannabis oil into water-soluble emulsions for seamless
integration into a variety of product formats, allowing for
near-perfect dosing, stability, and taste. 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 its wholly owned
subsidiary Valens Labs Ltd., 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.
Notice regarding Forward Looking Statements
All information included in this news 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. 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 LYF Acquisition does not
close, the Milestones are not met, the increase to the
Company's EBITDA and diluted EPS is not achieved, 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.
Jeff Fallows, The Valens Company,
Investor Relations, ir@thevalenscompany.com, 1 647.956.8254; KCSA
Strategic Communications, Phil
Carlson / Elizabeth Barker,
VLNS@kcsa.com, 1 212.896.1233 / 1 212.896.1203; Media: KCSA
Strategic Communications, Anne
Donohoe, adonohoe@kcsa.com, 1 212.896.1265
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SOURCE The Valens Company Inc.
