The Valens Company (TSE:VLNS) (OTCQX:VLNCF) (FRA:7LV) reported that it has submitted a site evidence package to Health Canada under its existing micro-processing licence application for the company's third Canadian manufacturing facility, which is located in the Greater Toronto Area (GTA).
Valens noted that its GTA facility is now in the final stages of construction and will provide an additional 30,000 square feet of capacity, while focusing on the formulation, co-packing, and manufacturing of cannabis-infused beverages and other customized Cannabis 2.0 and 3.0 products using SōRSE by Valens emulsion technology.
“Thanks to our exceptional team, we are now one step closer to bringing the GTA Facility online despite initial delays caused by the pandemic,” Valens CEO Tyler Robson said in a statement.
READ: Valens scales up and begins to show what it was 'made to do'
He added: “As of 4Q 2020 and according to Headset data, Valens holds approximately 5.2% of cannabis-infused beverage market share in Alberta, British Columbia, and Ontario, with just one partner in this product category.”
“With this additional manufacturing capacity, we look forward to expanding our beverage product offering and market share through additional mandates in this category with new and existing partners.”
Valens said its GTA facility should receive its licence in 2Q 2021, after which, Valens expects to begin manufacturing products at the facility and begin commercializing and shipping out products in the second half of fiscal 2021.
The company added that its custom-designed facility features a highly-integrated system that can fill 100 bottles per minute, producing both carbonated and non-carbonated beverages, with the added ability to easily increase future output to prepare for expected national demand.
Valens said its beverage program has been designed to support custom manufacturing and white label partners and is staffed with experts in formulation and product design, leveraging the company's existing testing and analytics capabilities.
The Valens Company is a British Columbia-based producer of cannabis products, medical and recreational, and it is scaling up operations.
The company can process over 425,000 kilograms of biomass per year and its services include numerous types of proprietary extraction, analytical testing, formulation, cultivation, and research, as well as white label product development.
Its products include tinctures, two-piece caps, soft gels, oral sprays, and vape pens, as well as beverages, edibles, injectables, and natural health products and it has a strong pipeline of next-generation products in development.
Contact Sean at sean@proactiveinvestors.com