KELOWNA, BC – Valens GroWorks Corp. (TSX: VLNS) (OTCQX: VLNCF) (“Valens” or “The Valens Company”), a world chief within the end-to-end improvement and manufacturing of progressive, cannabinoid-based merchandise, at this time introduced a customized manufacturing settlement with Verse Cannabis (“Verse”), a gaggle of innovators centered on bringing to market cutting-edge product formulations rooted in cannabinoid science.
Under the preliminary five-year settlement, The Valens Company will manufacture and distribute a spread of subsequent era merchandise, corresponding to hydrocarbon-derived crumble— a much-anticipated product by skilled customers, in addition to one of many first entries into the Canadian authorized market. The first line of merchandise might be manufactured beneath the model Verse Originals, which can embody a spread of high-quality important merchandise, corresponding to vapes and oils. To comply with, the Company will produce and manufacture a line of progressive codecs beneath the model Verse Concentrates, together with dwell resin vape pens and numerous water-based merchandise leveraging SōRSE by Valens emulsion know-how. Under the phrases of the customized manufacturing settlement, The Valens Company pays Verse royalties over the five-year time period. More info on the Verse product traces may be discovered right here https://versecannabis.com/.
“We are excited to develop new, long-awaited products with a brand that values quality and innovation as much as we do,” stated Tyler Robson, Chief Executive Officer of The Valens Company. “In partnership with Verse, we will be introducing a wide assortment of reimagined cannabis products yet to be seen in the legal Canadian market, but very much in line with the expectations of experienced cannabis users.”
Vape and focus product codecs proceed to current a major market development alternative and generate a considerable portion of hashish gross sales in North America. In 2019, the vape and focus product classes represented 33 p.c of whole gross sales in mature markets like California and Colorado. In Colorado, gross sales development in these product classes has outperformed the expansion within the flower class, being answerable for greater than 50 p.c of whole gross sales development from 2016 to 2019. Furthermore, concentrates alone make up for 14 p.c of gross sales in Colorado’s authorized market.
Due to Canada’s phased rollout, the illicit marketplace for concentrates continues to thrive and outperform these merchandise within the authorized hashish market. Manufacturing widespread, superior merchandise with Verse can put into movement an essential shopper migration alternative from the illicit market that The Valens Company hopes to convey to life with this partnership.
Robson added, “Concentrates have a long history in Canada, albeit in the illicit market. We now see a genuine opportunity to offer popular products, redeveloped based on the highest standards and our proprietary hydrocarbon processes. Over the last three years, The Valens Company has created a state-of-the-art platform that holds the highest regulatory certifications for hydrocarbon extraction. Our proprietary technologies, knowledge, and mass production capabilities will be used to create premium concentrate products that will satisfy a large void in Canada’s current legal market.”
About The Valens Company
The Valens Company is a world chief within the end-to-end improvement and manufacturing of progressive, cannabinoid-based merchandise. The Valens Company is targeted on being the accomplice of alternative for main Canadian and worldwide hashish manufacturers by offering best-in-class, proprietary companies together with CO2, ethanol, hydrocarbon, solvent-less and terpene extraction, analytical testing, formulation and product improvement and customized manufacturing. Valens is the biggest third-party extraction Company in Canada with an annual capability of 425,000 kg of dried hashish and hemp biomass at our purpose-built facility in Kelowna, British Columbia which is within the strategy of changing into European Union (EU) Good Manufacturing Practices (GMP) compliant. The Valens Company at the moment presents a variety of product codecs, together with tinctures, two-piece caps, tender gels, oral sprays and vape pens in addition to drinks, concentrates, topicals, edibles, injectables, pure well being merchandise and has a robust pipeline of next-generation merchandise in improvement for future launch. Finally, The Valens Company’s wholly-owned subsidiary Valens Labs is a Health Canada licensed ISO 17025 accredited hashish testing lab offering sector-leading analytical companies and has partnered with Thermo Fisher Scientific to develop a Centre of Excellence in Plant-Based Science. For extra info, please go to http://thevalenscompany.com
There is a transparent want within the market for Verse. On the one hand, fantastically branded and marketed flower-based manufacturers line the cabinets of hashish shops nationwide. On the opposite hand, quality-obsessed craft merchandise, fill the wants of these demanding extra, however at a excessive worth.
This is the place the thought for Verse was born. An assortment of the best high quality cannabinoid-based Gen2 merchandise accessible to all. A model whose North Star would at all times be innovation and high quality however values like realness and honesty would trump frills and gimmicks.
Like the verse of a track or poem, the place creativity follows the foundations of rhythm to turn out to be enticing to its listener, so does Verse, combining artistic innovation with the foundations of science to engineer extraordinary experiences for customers.