Experion and The Valens Company Enter into Pre-Roll Manufacturing Agreement
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VANCOUVER, BC / ACCESSWIRE / March 11, 2021 / Experion Holdings Ltd. (the "Corporation" or "Experion") (TSXV:EXP)(OTCQB: EXPFF)(FRANKFURT:MB31) Canada's solution to craft cannabis supply and builder of premium cannabis brands including its sought after and popular brand Citizen Stash, is pleased to announce that it has entered into a custom pre-roll manufacturing agreement with The Valens Company (VLNS) (VLNCF) (the "Company," "The Valens Company" or "Valens"), a leading manufacturer of cannabis products.
Under the agreement, Valens will provide end-to-end pre-roll manufacturing services which supports both the growth and product distribution of Experion's premium cannabis offerings. This is Valens' first custom manufacturing agreement of this nature following the receipt of its Health Canada licence amendment to sell dried cannabis products. In partnership, Valens and Experion will help expand Experion's already popular Citizen Stash pre-rolls, as demand continues to grow nationally for the brand's premium cannabis products.
"We are pleased to work with Valens as this partnership will allow Experion to expand production to facilitate broader consumer access to our award-winning Citizen Stash products," stated Jarrett Malnarich, Chief Executive Officer of Experion Holdings. "Partnering with an industry leader such as Valens allows us to immediately multiply our capacity and positions us to quickly develop next generation product lines. We believe this relationship demonstrates to the market that we are laser-focused on driving revenue by expanding our capacity to deliver premium cannabis products across Canada."
"We are excited to kick off our pre-roll manufacturing services with the commencement of our agreement with Experion for their Citizen Stash premium pre-rolls, which will expedite the entry of Valens-manufactured dried cannabis products into the Canadian market," said Tyler Robson, Chief Executive Officer, Co-Founder and Chair of The Valens Company. "Citizen Stash is synonymous with best-in-class products and we are proud to be chosen as a partner who can deliver on customized and premium quality products for the brand."
The terms of the agreement support a minimum two-year partnership with monthly minimum order quantities. Valens and Experion are in continued discussions to expand the existing agreement to include additional product development and custom manufacturing services for a range of next generation products beyond the pre-roll partnership and gummies, which are currently being manufactured at the LYF facility owned by Valens. There is, however, no assurance that any such deal would be reached.
About Experion Holdings Ltd.
Experion Holdings Ltd. is the parent company of Experion Biotechnologies Inc., a Health Canada licensed cultivator and processor of Cannabis, based in Mission, BC. Experion Holdings Ltd. is invested in a portfolio of products to address a wide spectrum of consumer needs' including Adult-use, Wellness and Therapeutic, and Medical products. Experion trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol "EXP" on the OTCQB Venture under the symbol "EXPFF" and on the Frankfurt Stock Exchange under the symbol "MB31".
About The Valens Company
The Valens Company is a leading manufacturer of cannabis derivative products with a mission to bring the benefits of cannabis to the world. The Company provides proprietary cannabis processing services across five core technologies, in addition to best-in-class product development, formulation and manufacturing of cannabis consumer packaged goods. The Valens Company's high-quality products are exclusively formulated for the medical, therapeutic, health and wellness, and recreational consumer segments, and are offered across numerous product formats, including oils, vapes, concentrates, edibles and topicals, as well as pre-rolls, with a focus on next-generation product development and innovation. Its breakthrough patented emulsification technology, SōRSE" by Valens, converts cannabis oil into water-soluble emulsions for seamless integration into a variety of product formats, allowing for near-perfect dosing, stability, and taste. 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 its wholly owned subsidiary Valens Labs Ltd., 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 http://www.thevalenscompany.com.
This news release contains "forward-looking statements" and "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of material factors, assumptions, risks and uncertainties, many of which are beyond the control of the Company.
Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "continues", "future", "forecasts", "potential", "outlook" and similar expressions, or are events or conditions that "will", "would", "may", "likely", "could", "should", "can", "typically", "traditionally" or "tends to" occur or be achieved. This news release contains forward-looking statements, pertaining to, among other things, the following: The Company's capital spending forecast and expectations of how it will be funded; near-term impacts from the COVID-19 pandemic; the Company's capital management strategy and financial position; the impact of governmental and Company measures implemented in response to the COVID-19 pandemic; the Company's outlook, activity levels, supply chains and sales channels; loss of markets; further legislative and regulatory developments involving cannabis or otherwise affecting the Company's business or its consumers generally, including delays in the issuance of licenses; competition; currency and interest rate fluctuations; and marketing costs.
Although the Company believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements are made, undue reliance should not be placed on the forward-looking statements because the Company can give no assurances that such statements and information will prove to be correct and such statements are not guarantees of future performance. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.
Actual performance and results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to: known and unknown risks, including those set forth in the Filing Statement dated September 25, 2017 and/or the most recent annual and interim Management's Discussion and Analysis ("MD&A") (a copy of which can be found under Experion's profile on SEDAR at www.sedar.com); a significant expansion of COVID-19 pandemic and the impacts thereof; the Company's ability to raise the necessary capital or to be fully able to implement its business strategy; integration of acquisitions, competition, and uncertainties resulting from potential delays or changes in plans with respect to acquisitions, development projects or capital expenditures and changes in legislation; stock market volatility and the inability to access sufficient capital from external and internal sources; general economic, market or business conditions including those in the event of an epidemic, natural disaster or other event; global economic events; changes to the Company's financial position and cash flow; the availability of qualified personnel, management or other key inputs; currency exchange fluctuations; changes in political and security stability; potential industry developments; and other unforeseen conditions which could impact the Company. Accordingly, readers should not place undue importance or reliance on the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive and should refer to "Risk Factors" set out in the MD&A.
Statements, including forward-looking statements, contained in this news release are made as of the date they are given and the Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Experion Holdings Ltd.
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