The Valens Company (TSX:VLNS, OTCQX:VLNCF) Inc. said it has signed a two-year agreement with Harvest One Cannabis Inc. (TSX-V:HVT, OTCQB:HRVOF) to become the white label manufacturer and provincial sales partner of cannabis-infused topicals for the company's leading brand LivRelief.
Harvest One, a global cannabis infusions consumer packaged goods (CPG) leader that distributes premium health, wellness, and self-care products, successfully launched its cannabis-infused portfolio of LivRelief products in 2020.
Since then, it has grown the product line to become the No. 1 selling cannabis-infused topical brand in Ontario -- Canada's largest market.
READ: The Valens Company sees fiscal 2Q revenue rise by 7% driven by new cannabis product launches
Valens said LivRelief is a growing line of cannabis-infused topical creams created using natural ingredients, which utilize a proprietary transdermal delivery system, allowing cannabinoids to reach targeted areas and designed for deep penetration.
The cannabis-infused topical creams are now available in three formats, including the CBD-only formulation containing 250 milligrams (mg) of CBD, 1:1 formulation with 125mg of THC and 125 mg of CBD, and the newly launched extra strength CBD formulation containing 750mg of CBD.
Valens said it will manufacture and distribute the infused creams across Canada. The first shipments of products out of its facilities are forecast at the start of the fiscal fourth quarter of 2021.
Currently, the LivRelief line of cannabis-infused topical creams is available nationally through the Medical Cannabis by Shoppers marketplace, and in various provincial and private retailers in Alberta, British Columbia, Manitoba, New Brunswick, Ontario, and Saskatchewan. Together, both companies will seek to expand distribution and increase consumer awareness and brand loyalty across Canada.
"The LivRelief cannabis-infused topical brand has established itself as a premium and reliable provider of cannabis-infused topicals with a leading-edge proprietary transdermal delivery system that took years of research, innovation, and dedication to develop," said Valens CEO Tyler Robson in a statement.
"We are proud to manufacture these top-selling creams in partnership with Harvest One and provide both new and experienced consumers the comfort to engage with cannabis-infused topicals. Valens already manufactures the number one selling bath product in Ontario and now adds the number one selling cannabis-infused topical brand to its portfolio, making it a clear leader in both the topicals and health and wellness verticals in Canada."
Harvest One CEO Gord Davey said Valens was selected after a rigorous and strategic selection process.
"Our partnership with The Valens Company will accelerate national and global growth opportunities,” Davey said. “Our innovative infused topical with its effective and differentiated delivery system has resonated very well with consumers and established itself as a leader in the Infused Topicals category.”
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