The Valens Company (TSX:VLNS, OTCQX:VLNCF) Inc told investors that its wholly-owned subsidiary Green Roads Inc has entered into an agreement with Signifi Solutions, Inc. to place cloud-managed Green Roads smart kiosks in various premium mall locations around the US.
Under the deal, Valens said Green Roads and Signifi have agreed to partner to initially install the smart kiosks in dozens of premium mall locations in bustling retail markets in the US, including New York, Florida, Arizona, Texas, and Colorado.
"This partnership gives Green Roads access to some of the largest mall locations in the US, thereby increasing overall brand awareness and opening a new revenue opportunity given the premium mall high foot traffic,” Valens CEO Tyler Robson said in a statement. “This opportunity combines world-class wellness products produced by Green Roads with cutting-edge smart kiosk technology developed by Signifi Solutions and premium mall locations."
READ: The Valens Company sees fiscal 1Q net revenue rise by 26.1% as its diversified cannabis business lines gain traction
Valens noted that the agreement also includes the potential for an additional 60 mall locations in 2022, with the first kiosk expected to go live in June 2022 with a full assortment of Green Roads products aimed at helping consumers with common health and wellness challenges such as stress, sleep, muscle and joint pain, relaxation, and focus.
"We selected Green Roads after careful review of their product breadth, quality reputation, and organizational commitment to compliance and excellence,” Sifnifi CEO Shamira Jaffer said. “Signifi will provide smart kiosk technology, with built-in digital screens that can be changed in real-time to align with demographic and sales data. Our technology delivers to consumers an elevated, convenient experience, including a secure platform to purchase Green Roads products. Through the smart kiosks, Green Roads will receive robust real-time data that will allow them to optimize the performance of each individual kiosk.”
Valens president Jeff Fallows said the agreement with Signifi is the first of several initiatives that Valens and Green Roads are taking to expand distribution channels in the US and abroad.
"This opportunity with Signifi Solutions is the perfect platform to drive discovery, trial, and frequency of purchase from the premium consumer base of malls,” Fallows concluded.
The Valens Company (TSX:VLNS, OTCQX:VLNCF) is a manufacturer of cannabis products. It provides proprietary cannabis processing services, in addition to product development, manufacturing, and commercialization of cannabis consumer packaged goods.
The company's products are formulated for the medical, health and wellness, and recreational consumer segments, and are offered across all cannabis product categories with a focus on quality and innovation. It also manufactures, distributes, and sells a wide range of CBD products in the US through its subsidiary Green Roads, and distributes medicinal cannabis products to Australia through its subsidiary Valens Australia.
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