The Valens Company Continues to Grow National Market Share

Rhea-AI Summary

The Valens Company has reported a significant increase in its recreational market share in Canada. As of February 2022, overall market share rose to 3.1%, up from 2.4% in November 2021, placing Valens at #10 nationally. In Ontario, market share increased to 3.2%, up from 2.3%. The company is capitalizing on recent product launches, including Versus seltzers and Contraband flower, aiming for continued growth and profitability throughout 2022.

Positive

• Quarter-over-quarter growth in market share from 2.4% in November 2021 to 3.1% in February 2022.
• Launch of new products, including Versus ready-to-drink seltzers and Contraband ultra-premium flower.

Negative

• None.

KELOWNA, BC, March 16, 2022 /PRNewswire/ - The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS)) (the "Company" "The Valens Company" or "Valens"), a leading manufacturer of cannabis products, is pleased to provide an update on its recent recreational market share in Canada.

Tyler Robson, Chief Executive Officer, Co-Founder and Chair of The Valens Company, said "We have shown strong quarter-over-quarter growth, as we continue to execute on our business strategy across all our brands in the Canadian recreational market. Furthermore, with the recent launch of Versus ready-to-drink seltzers, our Contraband ultra-premium flower offering, CNDYLND, and other recently launched product initiatives we look to continue our momentum into the coming quarters and deliver on our market share and profitability objectives in 2022."

Valens Market Share Summary¹:

	November 2021	February 2022
Canada2	2.4%	3.1%
Ontario3	2.3%	3.2%

National Market Share Trends²:

• 3.1% (ranked #10) overall market share in February 2022, compared to 2.4% (ranked #12) in November 2021
• 11.2% (ranked #4) beverage market share in February 2022, compared to 9.3% (ranked #4) in November 2021
• 3.5% (ranked #9) flower market share in February 2022, compared to 2.5% (ranked #10) in November 2021
• BC God Bud #1 best-selling SKU across all product categories in January 2022 and February 2022
• 3.2% (ranked #8) edible market share in February 2022, compared to 2.7% (ranked #10) in November 2021

Ontario Market Share Trends³:

• 3.2% (ranked #9) overall market share in February 2022, compared to 2.3% (ranked #11) in November 2021
• 4.1% (ranked #7) flower market share in February 2022,  compared to 2.3% (ranked #11) in November 2021

At Valens, it's Personal.

Sources:

¹ Overall market share across all product categories (unless otherwise noted)
² Based on Hifyre data as of March 14, in British Columbia, Alberta, Ontario, and Saskatchewan, not including any ...B2B LP sales
³ Based on Hifyre data as of March 14, in Ontario, not including any B2B LP sales

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.

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SOURCE The Valens Company Inc.

FAQ

What was the overall market share of The Valens Company in February 2022?

The Valens Company had an overall market share of 3.1% in February 2022.

How did Valens' market share in Ontario change from November 2021 to February 2022?

Valens' market share in Ontario increased from 2.3% in November 2021 to 3.2% in February 2022.

What new products did The Valens Company launch recently?

The Valens Company launched Versus ready-to-drink seltzers and Contraband ultra-premium flower.

What rank does The Valens Company hold in the national beverage market as of February 2022?

Valens holds a rank of #4 in the national beverage market with an 11.2% market share as of February 2022.

When was the press release about The Valens Company's market share published?

The press release was published on March 16, 2022.