25 Jan, 2022, 07:00 ET
Value brand 'Versus' and ultra-premium brand 'Contraband' are part of a multi-step strategy to better meet the needs of target consumers and grow the Valens adult recreational market portfolio
KELOWNA, BC, Jan. 25, 2022 /PRNewswire/ - The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS)) (the "Company" "The Valens Company" or "Valens"), a leading manufacturer of cannabis products, is pleased to announce the launch of Versus, an evolution of its Verse value brand. The launch involves the introduction of two net new Versus product lines this week, plus a rebranding of the full Verse portfolio this spring, for a total of approximately 20 SKUs across product categories. Consumers interested in finding out more about Versus and its line of products can go here. Valens is also launching its new ultra-premium brand, Contraband, this week with two sizes of CNDYLND flower, consumers interested in finding out more about Contraband can go here.
This repositioning and expansion mark the beginning of a strategic, multi-step plan to grow the Valens brand portfolio into one of the top performers in the adult recreational market. The Versus launch follows Valens' acquisition of Verse Cannabis in September 2021, which, with its acquisition of Citizen Stash, propelled Valens into a top-tier market share position in Canada, while remaining a partner-of-choice for third-party custom manufacturing partners.
"The acquisition of Verse was critical because it got us a wide base of listings in seven provinces, across multiple categories, in the very important value-priced segment," said Tyler Robson, Chief Executive Officer and Chair of The Valens Company. "Relaunched as Versus, it will be the challenger that isn't afraid to go toe-to-toe with every value brand competitor, and we're confident that it will come out on top in terms of product quality and consumer satisfaction."
"Valens is uniquely positioned to succeed with Versus because we're an innovation powerhouse," Robson continued. "To thrive in value, you must to be super agile and get new products and formats out very quickly, and that's what we're all about." The new brand addresses feedback from consumers and budtenders, and uses simplified, bold packaging and logos that convey the 'fighting spirit' of Versus.
Cannabis and urban music, fashion and art has always been closely intertwined. Contraband was born out of that existing connection, which has fueled so many great works of cultural creativity. With our founder a huge supporter of that culture, we also wanted to also pay homage to the long legacy left by the original cannabis cultivators and disruptors who created the conditions that led to today's legal market. That is the origin of Contraband – a product that was once illegal is now legal but still a catalyst for great music, art, and fashion. As we develop the brand, we plan to contribute to the development of those areas of culture in a legal and responsible way. By leveraging Citizen Stash's catalogue of premium genetics Valens will add a new line of ultra-premium products, expanding its reach to a new, more discerning consumer in this fast growing, high value segment. CNDYLND flower in two sizes (3.5g and 14g) will be the first launches, beginning in Ontario, followed later this year by pre-rolls, concentrates, and vapes.
"Winning in the value price point across multiple categories will give us a solid foundation," said Robson. "From there, Contraband is part of our strategy to build an ultra-premium brand offering, and ultimately create one of the most comprehensive and effective portfolios in the marketplace".
At Valens, it's Personal.
About The Valens Company
The Valens Company is a leading manufacturer of cannabis products with a mission to bring the benefits of cannabis to the world. The Company provides proprietary cannabis processing services, in addition to best-in-class product development, manufacturing, and commercialization of cannabis consumer packaged goods. The Valens Company's high-quality products are formulated for the medical, health and wellness, and recreational consumer segments, and are offered across all cannabis product categories with a focus on quality and innovation. The Company also manufactures, distributes, and sells a wide range of CBD products in the United States through its subsidiary Green Roads, and distributes medicinal cannabis products to Australia through its subsidiary Valens Australia. In partnership with brand houses, consumer packaged goods companies and licensed cannabis producers around the globe, the Company continues to grow its diverse product portfolio in alignment with evolving cannabis consumer preferences in key markets. Through Valens Labs, the Company is setting the standard in cannabis testing and research and development with Canada's only ISO17025 accredited analytical services lab, named The Centre of Excellence in Plant-Based Science by partner and scientific world leader Thermo Fisher Scientific. Discover more on The Valens Company at http://www.thevalenscompany.com.
Notice regarding Forward Looking Statements
All information included in this press release, including any information as to the future financial or operating performance and other statements of The Valens Company that express management's expectations or estimates of future performance, other than statements of historical fact, constitute forward-looking information or forward-looking statements within the meaning of applicable securities laws and are based on expectations, estimates and projections as of the date hereof. Forward-looking statements are included for the purpose of providing information about management's current expectations and plans relating to the future. Wherever possible, words such as "plans", "expects", "scheduled", "trends", "forecasts", "future", "indications", "potential", "estimates", "predicts", "anticipate", "to establish", "believe", "intend", "ability to", or statements that certain actions, events or results "may", "should", "could", "would", "might", "will", or are "likely" to be taken, occur or be achieved, or the negative of these words or other variations thereof, have been used to identify such forward-looking information. Specific forward-looking statements include, without limitation, all disclosure regarding future results of operations, future outcomes of transactions, economic conditions, and anticipated courses of action. Investors and other parties are advised that there is not necessarily any correlation between the number of SKUs manufactured and shipped and revenue and profit, and undue reliance should not be placed on such information.
The risks and uncertainties that may affect forward-looking statements include, among others, Canadian regulatory risk, Australian regulatory risk, U.S. regulatory risk, U.S. border crossing and travel bans, the uncertainties, effects of and responses to the COVID-19 pandemic, reliance on licenses, expansion of facilities, competition, dependence on supply of cannabis and reliance on other key inputs, dependence on senior management and key personnel, general business risk and liability, regulation of the cannabis industry, change in laws, regulations and guidelines, compliance with laws, limited operating history, vulnerability to rising energy costs, unfavourable publicity or consumer perception, product liability, risks related to intellectual property, product recalls, difficulties with forecasts, management of growth and litigation, many of which are beyond the control of The Valens Company. For a more comprehensive discussion of the risks faced by The Valens Company, and which may cause the actual financial results, performance or achievements of The Valens Company to be materially different from estimated future results, performance or achievements expressed or implied by forward-looking information or forward-looking statements, please refer to The Valens Company's latest Annual Information Form filed with Canadian securities regulatory authorities at www.sedar.com or on The Valens Company's website at www.thevalenscompany.com. The risks described in such Annual Information Form are hereby incorporated by reference herein. Although the forward-looking statements contained herein reflect management's current beliefs and reasonable assumptions based upon information available to management as of the date hereof, The Valens Company cannot be certain that actual results will be consistent with such forward-looking information. The Valens Company cautions you not to place undue reliance upon any such forward-looking statements. The Valens Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Nothing herein should be construed as either an offer to sell or a solicitation to buy or sell securities of The Valens Company.
SOURCE The Valens Company Inc.
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