The Valens Company (TSX:VLNS, OTCQX:VLNCF) Inc said it has broadened its existing agreement with a leading Canadian cannabis licensed producer (LP) to include custom manufacturing of cannabis products.
The agreement, which is with one of the Top 5 Canadian LPs, includes pre-roll manufacturing and represents the largest contract for Valens in this category to date.
“The expansion of this agreement signifies a very meaningful partnership between two of the country's leading cannabis companies with a collective passion of bringing Canadians the highest quality cannabis products,” The Valens Company (TSX:VLNS, OTCQX:VLNCF) CEO Tyler Robson said in a statement.
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“The pre-roll category is currently one of the largest and fastest-growing segments in the Canadian cannabis market and we are incredibly excited to sign our largest agreement to date in this category with a longtime, trusted partner. We look forward to expanding this relationship in the future,” Robson added.
The company noted the expanded agreement supersedes the previous extraction services agreement between the two companies and will draw on Valens' full suite of product manufacturing capabilities to supply the Canadian market with a range of cannabis products in various categories across several of the LP's award-winning brands.
The Valens Company is a profitable 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.
Valens’ 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