A subsidiary of The Valens Company (TSX:VLNS) (Nasdaq: VLNS) wants to make medical cannabis products more accessible by placing pot vending machines across shopping centers in the United States.
On Thursday, the company announced that its subsidiary Green Roads, Inc. has signed an agreement with automated retail firm Signifi Solutions Inc. to place cloud-managed Green Road “smart kiosks” at shopping centers in Texas, New York, Florida, Arizona and Colorado.
The first smart machine is expected to pop up in June. The agreement includes the potential for 60 mall locations this year. The kiosks will feature an assortment of Green Roads products to help patients with health issues such as stress, insomnia, muscle and joint pain.
Green Roads is a health-focused company that carries hemp-derived CBD and functional mushroom products aimed to provide a better quality of life.
Valens CEO Tyler Robson believes the partnership will make its customers more aware of the Green Roads CBD products due to these shopping centers’ high foot traffic.
“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,” Robson said.
“To our knowledge, no other CBD company has combined this level of technology with the sale of its products.”
Signifi Solutions is a tech company that focuses on automated retail, loss prevention and Information Technology solutions.
Shamira Jaffer, Signifi Solutions CEO, said in a statement the kiosks will have built-in digital screens that can be changed in real-time to align with demographic and sales data.
“Our technology delivers consumers an elevated, convenient experience including a secure platform to purchase Green Roads products through the smart kiosks,” Jaffer said.
Valens said this is the first of several initiates involving its Green Roads subsidiary aiming to expand its distribution channels in the U.S. and abroad.
Valens stock closed Tuesday at C$1.33, down 6.34 per cent on the TSX, and down 7.89 per cent to US$1.05 on the NASDAQ.