The Valens Company to Begin Trading on Nasdaq Capital Market
Common Shares are Expected to Begin Trading Tomorrow on December 9, 2021, Under Ticker "VLNS"
KELOWNA, BC, Dec. 8, 2021 /CNW/ - The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) (the "Company" "The Valens Company" or "Valens"), a leading manufacturer of cannabis products, announces that the Company's application to list its common shares on Nasdaq Capital Market ("Nasdaq") has been approved. The Company's common shares (the "Common Shares") are expected to commence trading on Nasdaq under the symbol "VLNS" on December 9, 2021.
Valens' common shares will continue to be listed and trade on the Toronto Stock Exchange (TSX) under the symbol "VLNS". The Company's shares will continue to trade on the OTCQX under the symbol "VLNCD" until trading on Nasdaq commences. Shareholders are not required to take any action as a result of the up-listing and symbol change.
Tyler Robson, Chief Executive Officer and Chair of The Valens Company said, "Our Nasdaq listing represents yet another important milestone that reflects our commitment to all of our shareholders as we continue to advance our global growth initiatives by capitalizing on the legalization of cannabis around the world and strengthening our corporate governance. I'm exceptionally proud of our team and the platform we have built here in Canada. Looking forward, we will continue to build a company focused on product innovation and advancing our intellectual property to create products that consumers enjoy. Listing on Nasdaq is the next step to our capital markets strategy. We believe this listing will enable Valens and its shareholders greater access to liquidity, increased corporate visibility, and a broader shareholder base, in an effort to create long-term shareholder value."
The Company's listing on Nasdaq remains subject to satisfaction of all applicable listing and regulatory requirements. In conjunction with this Nasdaq listing, Valens' common shares will become DWAC/FAST eligible for U.S. shareholders.
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.
Jeff Fallows, The Valens Company, Investor Relations, [email protected], 1.647.956.8254; KCSA Strategic Communications, Phil Carlson, [email protected], 1.212.896.1233; Media, KCSA Strategic Communications, Anne Donohoe, [email protected], 1 212.896.1265
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