The Valens Company (TSX:VLNS, OTCQX:VLNCF) Inc has announced its highlights and achievements of 2021, while sharing details of the upcoming virtual investor day on February 7, 2022, to discuss its corporate initiatives including recent developments, financial objectives, acquisition updates for the oncoming year.
“We recognize 2021 was an especially tough year for cannabis and small-cap growth investors. This is top of mind for Valens management as we too are committed shareholders of Valens," said Tyler Robson, CEO of The Valens Company (TSX:VLNS, OTCQX:VLNCF), in a statement.
He added: "In addition to the overall industry and economic challenges of 2021, supply-chain issues disrupted the flow of goods across the world. We nevertheless worked to increase operational efficiencies and succeeded in accelerating our business plan, expanding our presence into the world of branded products and finished-goods manufacturing.”
Robson noted that the company is now well-positioned to drive revenue growth in 2022, drive further cost efficiencies following a very acquisitive 2021, go after targeted marketing opportunities, and become a competitive force globally.
READ: The Valens Company partners with Montreal Cannabis Médical for extraction and manufacturing of pre-rolls and vapes
“These acquisitions are expected to play a key role in gaining operational efficiencies and achieving margin expansion as we increase our focus in these areas and strive to unlock their significant value for our shareholders,” said Robson.
“Furthermore, we plan to continue to build on our manufacturing partnerships, while strategically deploying capital resources to bolster our manufacturing platform and execute on our growth strategy in Canada as well as the United States,” he noted.
“Moving into 2022, our capital markets strategy will be focused on increasing institutional and public investor outreach to strengthen our long-term relationship with our valued investor community," Robson concluded.
The company milestones for 2021 included:
- Successfully transitioned its business model from toll processing to finished product manufacturing to branded product sales in 18 months
- Aggregate consumption-level retail sales increased 76.5% in 3Q 2021 compared to 2Q 2021 based on Hifyre data for Alberta, Ontario, and British Columbia
- Verse BC God Bud 28g became a top 5 best-selling stock-keeping unit (SKU) in the flower category in Alberta, Ontario, and British Columbia during the 4Q 2021 period from September to November, and was the second-ranked best-selling SKU across all categories in Alberta, Ontario, and British Columbia during December 2021 according to Hifyre after only 7 months in the market
- Successfully commissioned the K2 facility, enabling Valens to fully leverage its low-cost cannabis platform to drive product sales, accelerate entry into new innovative product verticals and increase output volumes
- Successfully commissioned the Pommies facility, providing Valens with an additional 30,000 square feet of licensed production and manufacturing space to execute on its cannabis-infused beverage commercialization and distribution strategy
- Successfully completed four strategic acquisitions, expanding domestic and global distribution reach with products available in eight provinces and territories, 50 states, and 10 countries
- As part of its capital markets strategy, the Nasdaq listing positions Valens and its shareholders for greater access to liquidity, increased corporate visibility, and a broader shareholder base in 2022
- Entered the value segment through the acquisition of Verse Cannabis offering a wide selection of high-quality products, providing consumers an array of cannabis consumption experiences without the uncomfortably high price point
- Maintained the highest cannabis revenue per dollar invested amongst Canadian cannabis peers by investing in the right assets and opportunities to create long-term shareholder value
Contact Ritika at ritika@proactiveinvestors.com