Valens receives Health Canada license amendment to sell dried cannabis products

The Valens Company (TSE:VLNS) (OTCQX:VLNCF) (FRA:7LV) announced that it has received an amendment to the company’s existing Health Canada standard processing licence, permitting the sale of dried cannabis products to authorized provincial and territorial retailers in Canada. 

Valens noted that the licence amendment will allow it to start selling and distributing pre-rolls and dried cannabis derivative products, which the company expects will begin in 2Q 2021, increasing its total addressable market. 

“At the request of our partners, we are increasing our product offering to include pre-rolls and next-generation dried cannabis products,” Valens CEO Tyler Robson said in a statement. 

READ: Stifel Nicolaus Canada lifts Valens target price to $3.35, touting stronger operational footprint

He added: “We believe that this licence, paired with our low-cost platform, will drive a competitive advantage for our partners in a category with price-sensitive consumers.”

The company said its pre-rolls and dried cannabis derivative products will be the latest additions to its growing portfolio of in-demand offerings, which includes a variety of cannabis extract products such as vapes, concentrates, edibles, beverages, and topicals, allowing Valens to offer a complete range of products to its customers in the Canadian recreational cannabis market.

Given its access to competitively-priced fresh and dried cannabis sources, Valens said it is strongly positioned to develop and manufacture the highest-quality dried cannabis derivative products at a category shaping value proposition.

It added that a variety of pre-roll formats, in numerous blends and sizes, are currently under development at the company’s newly-operational K2 facility located in Kelowna, British Columbia.

The Valens Company is a profitable British Columbia-based producer of cannabis products, medical and recreational, and it is scaling up operations.

The company can process over 425,000 kilograms of biomass per year and its services include numerous types of proprietary extraction, analytical testing, formulation, cultivation, and research, as well as white label product development.

Its products include tinctures, two-piece caps, soft gels, oral sprays, and vape pens, as well as beverages, edibles, injectables, and natural health products and it has a strong pipeline of next-generation products in development.

Contact Sean at [email protected]

Story by ProactiveInvestors