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Tuesday, Aug 16, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

Valens ships first orders from Ontario facility

It also revealed an expanded deal with an unnamed licensed producer

Valens ships first orders from Ontario facility
Photo via Valens

Canadian producer The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) has started shipping weed-infused drinks from its facility in Ontario — the largest regional market in the country.

In a statement Thursday, the Kelowna-based company said it completed the first shipments from its Greater Toronto Area subsidiary Pommies Cider Co. to Ontario pot shops.

The first shipments are expected to reach Ontario shelves by the end of January. Purchase orders in British Columbia, Alberta, Manitoba and the Yukon will be fulfilled in the coming days.

The 355-millilitre cannabis-infused drinks to be released are A1 in raspberry and peach lemonade flavours, as well as Versus black cherry, lime seltzer, grapefruit and mango seltzers.

Bolton-based cider manufacturer Pommies — also known as Southern Cliff Brands Inc. — was acquired by Valens in 2019 via a $7.5-million stock-and-cash deal.

The 30,000-square-foot facility can produce up to 8 million infused beverages annually, in cans and bottles of various sizes and formats.

Read more: Valens to manufacture pre-rolls and vapes for MTL Cannabis

Read more: Valens gets $40M loan to accelerate growth

Also on Thursday, the company said it entered into a deal to produce a customized line under an expanded agreement with an unnamed licensed producer.

“Valens has worked in close collaboration with cannabis enthusiasts to bring to market a selection of fresh new beverages made with natural flavours in a ready-to-drink format that appeal to both connoisseurs and first-time consumers,” CEO Tyler Robson said in a statement.

“The GTA facility is highly automated and built to fulfill today’s growing volumes while significantly bolstering our strategic potential by providing us with the operational footprint and expertise to make Valens the go-to name in cannabis-infused beverages in Canada.”

Valens says it’s expanding its branded beverage portfolio, with new offerings coming to market over the next few quarters, as well as expanding relationships with new and existing business-to-business partnerships to further fill capacity.

In December, the company said it will be handling manufacturing and extraction for Montreal Cannabis Médical Inc.’s pre-rolls and vapes through a new partnership.

 

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