The Valens Company Inc (TSE:VLNS) (OTCQX:VLNCF) (FRA:7LV) said it has increased its total addressable market in Canada with the launch of a host of new products in partnership with Verse Cannabis under the Verse Originals and Verse Concentrates lines.
The new products include pre-roll and flower (at the request of the company's customer base), and also includes the Double Chocolate Brownie – one of the first confectionery products of its type to hit the Canadian recreational market, said Valens.
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"With these new additions to the Verse Originals and Verse Concentrates lines, Valens now has products across all cannabis categories in the Canadian recreational market," said Tyler Robson, the CEO of The Valens Company.
"With our proven ability to create innovative products across all categories, we have not only increased our total addressable market in Canada, but now hold the capability to increase partnership opportunities with our enhanced product offering, reach more consumers with our expanded distribution network, and elevate both the quality and value of products in the Canadian market today," he added.
Under the Verse concentrates line, the Killer Kush Live Terp Vape Cartridge has been launched in Alberta, British Columbia and Saskatchewan, and is expected to be coming soon to Ontario, Manitoba and New Brunswick.
Meanwhile, Verse Hash contains a unique mix of terpenes that deliver a bold nose, said Valens. This product is expected to be available in Alberta, British Columbia and Saskatchewan in the coming weeks.
Under the Verse Originals line, the Double Chocolate Brownie follows the success of the Baked Apple and Sour Medley Soft Chews introduced to the market in Q1, 2021, said Valens, and is expected to be available in Ontario in the third quarter this year.
Elsewhere, the BC God Bud Flower is expected to be available in Alberta, British Columbia, Manitoba, Saskatchewan and New Brunswick in the coming weeks, and Ontario in Q3, 2021, as is the BC Dreamweaver Pre-Rolls product.
Finally, the Amp Pre-Roll is expected to be available in Alberta, British Columbia and Saskatchewan in the coming weeks and coming to Manitoba in the third quarter, 2021.
The Valens Company's products are exclusively formulated for the medical, therapeutic, health and wellness, and recreational segments, and are offered across numerous formats, including oils, vapes, concentrates, edibles and topicals, as well as pre-rolls.
Via its wholly-owned subsidiary Valens Labs Ltd, the firm also has 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.
Contact the author at giles@proactiveinvestors.com