Valens continues to increase share of the Canadian entertainment market in April

Kelowna, British ColumbiaAnd 25 May 2022 / cnw / – Valens Company Inc. (TSX: VLNS) (NASDAQ: VLNS) (“The Valens Company” or “Valens”), the leading manufacturer of branded cannabis products, is pleased to provide an update on its recent recreational market share in Canada.

Tyler RobsonValens CEO, said, “We continue to expand our recreational market share as we develop strength within our brand portfolio with products that continue to resonate with consumers. Furthermore, Valens has been the fastest growing company among the top ten licensed producers by market share, With retail sales growing by 53.8% from November 2021 to April 2022 Based on Hifyre data in . format OntarioAnd AlbertaAnd British ColumbiaAnd Saskatchewan. Most importantly, we were able to increase our market share across all product categories and our overall market share increased by 90 basis points from 2.5% in November 2021 to 3.4% in April 2022. We continue to grow faster than the average of our top ten competitors who have collectively seen their market share decline over the same period. In short, we are on track to meet our goals for 2022 to become a top five player in vapes, food and beverage and a top ten player in flower products by the end of the year.”

Valens Market Share Summary:


November

2021

April

2022

Retail
growth1

Main Markets2

2.5%

3.4%

53.8%

Cannabis 1.0 Market Share Update2:

  • Against BC God Bud #1 best-selling SKU for four consecutive months in 2022 among all product categories in OntarioAnd AlbertaAnd British ColumbiaAnd Saskatchewan
  • Paper-filled pre-roll pre-roll launched, Big Willie and Super Lemon Haze Jar of J’s in May 2022which also puts Valens in a potential market share growth position in the pre-operational category in the third quarter

Rank

objective

2022

April

2022

Retail
growth1

flower

#8

Top 10

3.2%

69.7%

roll before

#13

Top 10

2.0%

61.8%

Hemp 1.0



3.3%

67.8%

Cannabis market share update 2.02:

  • Versus Seltzers is now among the fastest growing cannabis-containing beverages with 505% provincial sales growth and 2.86% combined market share in the OntarioAnd AlbertaAnd British ColumbiaAnd Saskatchewan Since launching in January 2022
  • Launched two new Versus Seltzers flavors, Mango and Ruby Grapefruit in May 2022 Arrive just in time for the summer season
  • We launched 4 of the most affordable vape SKUs on the market under our Versus brand (Peach Dream, Dank Berry, Mad Mango and Loud Lemon) making Valens the most potential growth for market share in the vape category in Q3

Rank

objective

2022

April

2022

Retail
growth1

the food

#9

top 5

3.2%

47.8%

steam

#7

top 5

3.8%

28.6%

Drink

# 4

top 5

10.8%

41.9%

Hemp 2.0



4.2%

34.5%

At Valens, it’s personal.

sources:

1 Retail growth from November 2021 to April 2022, according to Hifyre data as of May 10y

2 Hifyre data as of May 10y In Ontario, Alberta, British Columbia and Saskatchewan, not including any B2B LP sales

About Valens

Valens is a leading manufacturer of cannabis products with a mission to bring the benefits of hemp to the world. The company provides proprietary cannabis processing services, as well as developing, manufacturing and marketing best-in-class products for consumer packaged cannabis goods. Designed for the medical, health, wellness, and recreational consumer segments, Valens’ quality products 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 State Through its subsidiary Green Roads, it distributes medicinal cannabis products to Australia. In partnership with brand houses, consumer packaged goods companies and licensed cannabis producers around the world, the company continues to grow its diverse product portfolio in line with the evolving preferences of cannabis consumers in key markets. Through valence laboratoriesThe company sets standards in cannabis testing and research and development Canada The only ISO17025-accredited analytical services laboratory, named a Center of Excellence in Plant-Based Science by partner and world leader Thermo Fisher Scientific. Find out more on Valens at http://www.thevalenscompany.com.

Notice regarding forward-looking statements
All information in this press release, including any information regarding future financial or operating performance and other statements of Valens that express management’s expectations or estimates of future performance, other than statements of historical facts, constitute forward-looking or forward-looking information – forward-looking statements within the meaning of the laws The applicable securities are based on projections, estimates and projections as of the date of this Act. Forward-looking statements are included for the purpose of providing information about management’s current expectations and plans for the future. Where possible, words such as “plans,” “expects,” “scheduled,” “trends,” “expects,” “future,” “indications,” “potential,” “estimates,” “forecast,” “anticipate,” “anticipate.” to demonstrate, “believe,” “intend,” “able to,” or statements that some action, event or outcome “may,” “should,” “could,” “may,” “may,” and “will,” or it is “likely” that these words or other forms of these words or other forms of them have been taken, spoken, realized, or used to determine such forward-looking information. Specific forward-looking statements include, but are not limited to, all disclosures regarding future results of operations, future results of transactions, economic conditions and expected courses of action. Investors and other parties are advised that there is not necessarily any correlation between the number of inventory holding units manufactured and shipped, and revenue and profits, and should not be undue reliance on such information.

Risks and uncertainties that may affect forward-looking statements include, among others, Canadian regulatory risks, Australian regulatory risks, US regulatory risks, US border crossings and travel bans, the uncertainties, effects, and responses to the COVID-19 pandemic, licensing reliance, facility expansion, competition, dependence on cannabis supply and dependence 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, exposure to rising energy costs, unfavorable advertising Favorable or consumer perception, product liability, intellectual property risks, product recalls, difficulties in forecasting, growth management and litigation, many of which are beyond the control of The Valence Company. For a more comprehensive discussion of the risks faced by Valens, which could cause the actual financial results, performance or achievements of Valens to differ materially from the estimated future results, performance or achievements expressed or implied by forward-looking information or forward-looking statements, please refer to the latest Sample Valens annual information filed with the Canadian securities regulators at www.sedar.com or on the Valens website at www.thevalenscompany.com. The risks described in this annual information form are included by reference here. Although the forward-looking statements contained herein reflect management’s current beliefs and reasonable assumptions based on information available to management as of the date of this announcement, Valens cannot guarantee that actual results will be consistent with such forward-looking information. Valens cautions you not to place undue reliance on any of these forward-looking statements. Valens 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 contained herein should be construed as an offer to sell or a solicitation to buy or sell Valens securities.

SOURCE The Valens Company Inc.

For more information: Jeff Fallows, The Valens Corporation, Investor Relations, [email protected], 1.647.956.8254; KCSA Strategic Communications, Phil Carlson, [email protected], 1,212.896.1233; Media, KCSA Strategic Communications, Ann Donohue, [email protected]1 212.896.1265

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