|Bid||2.4800 x N/A|
|Ask||2.5000 x N/A|
|Day's Range||2.4600 - 2.5700|
|52 Week Range||1.9400 - 3.6300|
|Beta (5Y Monthly)||1.72|
|PE Ratio (TTM)||125.00|
|Earnings Date||Apr. 14, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||7.14|
KELOWNA, BC , July 6, 2020 /CNW/ - The Valens Company Inc. (formerly Valens GroWorks Corp.) (TSX: VLNS) (OTCQX: VLNCF) (the "Company ," " The Valens Company " or "Valens" ...
Industry insiders say the math behind the current policy favours higher-potency drinks while restricting sales of mellower products.
KELOWNA, BC , June 22, 2020 /CNW/ - The Valens Company Inc. (formerly Valens GroWorks Corp.) (VLNS.TO) (VLNCF) (the "Company" or "The Valens Company"), a global leader in the end-to-end development and manufacturing of innovative, cannabinoid-based products, today announced that it has completed its continuance out of British Columbia and its incorporation under the Canada Business Corporations Act as "The Valens Company Inc." The common shares of the Company will begin trading under the Company's new name on the Toronto Stock Exchange (the "TSX") and the OTCQX (the "OTC") on June 24, 2020 , marking the completion of its previously announced rebranding to "The Valens Company".
Under the terms of the two-year agreement, The Valens Company has agreed to manufacture a minimum of 250,000 units across a variety of branded products in the ufeelu portfolio. Valens will initially focus on the development of cannabis oils, vapes and topicals, with specialty drinks expected to be added to the product line shortly.
Under the terms of the High12 Agreement, The Valens Company and High12 will partner for a two-year term with successive one-year renewal options. Further, the parties have collaborated to develop a customized collection of products in partnership with vape solutions provider The Blinc Group to align with the DAIZE brand identity, which strives to target unmet consumer demand in the Canadian cannabis market.
The new product line, "Made By," will include three ready-to-go, disposable vape pens with best-in-class features, engineered to the highest standards of safety. The line of vape pens will be available both online and at select retailers in Alberta later this month.
Under the initial five-year agreement, The Valens Company will manufacture a range of innovative, new products, including hydrocarbon-derived crumble, one of first such entries into the Canadian legal market. First, the Verse Concentrates line will be introduced with crumble and an innovation-led product pipeline. The second line to launch, Verse Originals, will include high-quality vapes and oils with unique terpene profiles at great value price points.
In addition, the Company also provided an update on its Normal Course Issuer Bid ("NCIB") activity. Under the agreement between The Valens Company and TREC Brands (the "TREC Agreement"), The Valens Company will manufacture vape pens across three existing TREC brands; Thumbs Up Brand, WINK, and Blissed, with the potential to later produce other innovative products.
Under the terms of the credit facility, the Lenders will provide The Valens Company up to C$40 million of secured debt financing. The Credit Facility consists of a C$20 million secured term loan and a C$20 million secured revolving loan, with an accordion feature that could allow The Valens Company to increase the aggregate commitments by up to an additional C$10 million.
The Valens Company Nominates Three New Independent Directors to Board and Provides Update on SEDI Filings
Landmark agreement provides The Valens Company with strategic access to the second largest cannabis market outside of North America . Under the terms of the five-year agreement, The Valens Company becomes a preferred supplier to Cannvalate, a leading authority in the Australian medical cannabis community with the largest cannabis distribution platform in the country. Partnership provides the Company the platform to establish initial operations, pursue required licensing, and bring Valens' high quality, innovative, oil-based products to a growing medical patient base and broader consumer categories as the market evolves.
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