- This launch demonstrates The Valens Company’s ability to execute and be first to market in Ontario for cannabis-infused beverages, proving its commitment to delivering trusted Cannabis 2.0 products to its partners and the Canadian market.
- Under a white label agreement with A1 Cannabis Company (a subsidiary of Iconic Brewing), The Valens Company to provide high-quality cannabis extracts, formulation services, and SōRSE™ emulsion technology IP; A1 Cannabis Company to brand and market the beverages across Canada.
- New line of beverages includes BASECAMP, a CBD-forward iced tea, to be available at select retailers in Ontario in the coming days, and SUMMIT, a THC-forward citrus water, to follow in the coming weeks.
KELOWNA, B.C., March 5, 2020 /CNW/ – Valens GroWorks Corp. (TSXV: VLNS) (OTCQX: VLNCF) (the “Company”, “Valens” or “The Valens Company”), a global leader in the end-to-end development and manufacturing of innovative, cannabinoid-based products, today announced the launch of a line of cannabis-infused beverages, produced under a white label agreement with A1 Cannabis Company (a subsidiary of Iconic Brewing). The launch demonstrates Valens’ leadership and excellence in the development and manufacturing of Cannabis 2.0 products, as the Company continues to successfully commercialize cannabis-infused beverages within the Canadian market.
The new line of beverages includes BASECAMP, a CBD-forward iced tea, and SUMMIT, a THC-forward citrus water. BASECAMP will be available at select retailers throughout Ontario in the coming days, with additional markets expected to follow. SUMMIT is expected to be available at select stores in the coming weeks.
SUMMIT and BASECAMP were developed using the SōRSE by Valens emulsion technology which transforms cannabis oil into water-soluble forms for use in beverages, edibles, topicals and other consumer products while eliminating cannabis taste, colour or smell. The technology provides a number of advantages including faster observed onset times compared to other infused beverages and edibles; a significant reduction of offset time; an ability to use lower doses of cannabinoids due to enhanced bioavailability; and increased consistency and stability with the potential to achieve more than one-year shelf life.
“Our agreement with A1 demonstrates the strategic value of partnering with leading companies that share our vision and reinforces our commitment to launching the Cannabis 2.0 products that consumers are looking for,” said Tyler Robson, CEO of Valens. “This is the next step in the execution of our strategy to introduce innovative, high-quality products that deliver safe and customized user experiences.”
The Canadian market for cannabis beverages is growing rapidly, and according to a report by Deloitte, it is expected to reach C$529 million on an annual basis. Additionally, the firm projects that in Canada alone, consumers are expected to spend C$1.6 billion annually on cannabis extract-based products (including beverages).
Cole Miller, CEO and Founder of A1 Cannabis Company, said, “We are incredibly proud to introduce the SUMMIT and BASECAMP beverages in partnership with Valens, and are fully confident that they will meet the taste and quality expectations of Canadian consumers who have been waiting eagerly for cannabis-infused beverages.”
Under the terms of the white label agreement between Valens and A1 Cannabis Company, a minimum of 2.5 million cannabis-infused beverages will be produced over five years, with the opportunity to expand on the partnership with new product offerings in the near future.
About The Valens Company
The Valens Company is a global leader in the end-to-end development and manufacturing of innovative, cannabinoid-based products. The Company is focused on being the partner of choice for leading Canadian and international cannabis brands by providing best-in-class, proprietary services including CO2, ethanol, hydrocarbon, solvent-less and terpene extraction, analytical testing, formulation and white-label product development and manufacturing. Valens is the largest third-party extraction Company in Canada with an annual capacity of 425,000 kg of dried cannabis and hemp biomass at our purpose-built facility in Kelowna, British Columbia which is in the process of becoming European Union (EU) Good Manufacturing Practices (GMP) compliant. The Valens Company currently offers a wide range of product formats, including tinctures, two-piece caps, soft gels, oral sprays and vape pens as well as beverages, concentrates, topicals, edibles, injectables, natural health products and has a strong pipeline of next-generation products in development for future release. Finally, the Company’s wholly-owned subsidiary Valens Labs is a Health Canada licensed ISO 17025 accredited cannabis testing lab providing sector-leading analytical services and has partnered with Thermo Fisher Scientific to develop a Centre of Excellence in Plant-Based Science. For more information, please visit http://thevalenscompany.com. The Company’s investor deck can be found specifically at http://thevalenscompany.com/investors/.
About A1 Cannabis Company (a subsidiary of Iconic Brewing Company)
Headquartered in Toronto, Ontario, Iconic Brewing Company has current beverage alcohol distribution across Canada and has quickly emerged as a leader in Canada’s “Better For You” beverage alcohol space, with brands such as Cottage Springs Vodka Soda and Liberty Village Dry Cider. Iconic Brewing has leveraged this success to create A1 Cannabis Company. Founded on the same principles, A1 Cannabis Company shares the same mission: to create better-for-you cannabis products, built for the healthy and active consumer.
SOURCE The Valens Company