The Valens Company Enters Manufacturing Partnership with MTL Cannabis for Extraction and Manufacturing of Pre-rolls and Vapes

KELOWNA, BC, Dec. 22, 2021 /PRNewswire/ - The Valens Company Inc. (NASDAQ: VLNS) (TSX: VLNS) (the "Company" or "The Valens Company"), a leading manufacturer of cannabis products, announces it has entered into a manufacturing partnership with Montreal Cannabis Médical Inc. ("MTL" or "MTL Cannabis") to provide manufacturing and extraction services for MTL's pre-rolls and vapes.

Valens expects the contract to begin at the end of the first quarter of fiscal 2022.

MTL is a flower first company cmmitted to bringing craft cannabis to the masses through a five-step process that includes an award-winning hydroponic system, hang-drying, and hand-trimming. With industry-leading yields, MTL offers high quality cannabis at a competitive price point. Since its adult-use market launch in October 2020, MTL Cannabis has emerged as one of Canada's fastest-growing dried flower consumer brands, placing in the top five in dried flower sales in most provinces.

"MTL has demonstrated the kind of success, consistency and quality that The Valens Company looks for in a partner," said Tyler Robson, CEO of The Valens Company. "We are excited to expand our presence with one of the fastest growing and reputable flower consumer brands in Canada."

"Valens not only has one of the broadest ranges of manufacturing capabilities but also shares the same commitment to consumers and quality that we do," said Richard Clement, CEO of MTL Cannabis. "We look forward to working with Valens to expand our offering for consumers in a greater variety of formats."  

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 and its subsidiaries at https://www.thevalenscompany.com.

About MTL
MTL Cannabis is a privately-owned Canadian Licence Holder located in Montreal, Quebec. As a flower-first company built for the modern street, MTL Cannabis is a 57,000 sq ft licensed facility with room to expand to 130,000 sq ft in the existing 2 buildings and possible expansion to over 300,000 sq ft. Under the existing footprint, the indoor facility uses proprietary hydroponic growing methodologies supported by handcrafted techniques to produce products that are truly craft for the masses. MTL Cannabis currently produces over 13,000 kgs annually, yielding over 2kg per light. With supply deals in nine Canadian provinces, the company consistently hits top 5 in dried flower sales. MTL is the recipient of the Grow Up Awards 'Craft Grower of the Year' and 'Best Hydroponic System' and KIND Magazine's Budtenders Choice for 'Sativa of the Year' for its signature strain, Sage n' Sour.

MTL Cannabis' goal has been clear from the start, be the brand that brings the best of the street to the shelves by staying committed to the craft.  Please visit https://www.mtlcannabis.ca/

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, that the potential benefits of the Consolidation, including the effect on the Company's application to list its Common Shares on the NASDAQ, will not be achieved, 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.

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SOURCE The Valens Company Inc.