Valens Company Teams Up With Harvest One To Produce And Distribute LivRelief's Cannabis-Infused Topicals

Author: Nina Zdinjak | July 28, 2021 11:59am

Cannabis product manufacturer The Valens Company Inc. (TSX:VLNS) (OTCQX: VLNCF) entered a two-year agreement with Harvest One Cannabis Inc. (OTCQB: HRVOF) to produce and distribute the cannabis-infused topical brand LivRelief. 

Harvest One, a cannabis-focused CPG company rolled out its first cannabis-infused portfolio of LivRelief products last year. Since then, the product line has advanced significantly, becoming the number one selling cannabis-infused topical brand in Ontario. 

LivRelief Line Details

LivRelief is a line of cannabis-infused topical creams made of natural ingredients

containing a proprietary transdermal delivery system, which enables cannabinoids to penetrate desired areas. Creams from the line are accessible in three formats – 1) CBD only with 250mg of CBD, 2) 1:1 with 125mg of THC and 125mg of CBD, and 3) Extra strength CBD with 750mg CBD.  

All these formats are about to be manufactured and distributed across Canada by Valens, with first shipments from its facilities expected at the beginning of the fiscal fourth quarter.

At the moment, the line is reachable across the nation via the Medical Cannabis by Shoppers marketplace and through some private retailers.

"The LivRelief cannabis-infused topical brand has established itself as a premium and reliable provider of cannabis-infused topicals with a leading-edge proprietary transdermal delivery system that took years of research, innovation, and dedication to develop," Tyler Robson, CEO, co-founder and chair of Valens stated. "We are proud to manufacture these top-selling creams in partnership with Harvest One and provide both new and experienced consumers the comfort to engage with cannabis-infused topicals. Valens already manufactures the number one selling bath product in Ontario3 and now adds the number one selling cannabis-infused topical brand to its portfolio, making it a clear leader in both the topicals and health and wellness verticals in Canada."

Gord Davey, president and CEO of Harvest One added they are thrilled to team up with the Valens Company. "Our partnership with The Valens Company will accelerate national and global growth opportunities,” Davey said.

The Valens Company Recent Operational And Business Milestones 

• The Kelowna, British Columbia-based company recently released its second-quarter financial results net revenue jumping 6.5% to $18.8 million, compared to $17.6 million in the same period of 2020. Adjusted EBITDA for the reporting period was a loss of $5 million, which compares to an adjusted EBITDA gain of $2.7 million, or 15.3% of revenue in the comparative quarter of the previous year;
• The company closed the acquisition of Green Roads and its manufacturing subsidiary for $40 million in a cash-and-stock transaction, entering the U.S. market in June;
• The Valens Company further expanded its Canadian distribution outreach coming to Manitoba, New Brunswick and Yukon Territory. The company currently distributes its products across six provinces and one territory, including Alberta, British Columbia, Ontario
• and Saskatchewan.

Price Action 

The Valens Company’s shares were trading 7.52% at $2.05 per share at the time of writing Wednesday midday.

Photo: Courtesy of Shane Rounce on Unsplash

Posted In: HRVOF TSX:VLNS VLNCF