VLNS - VLNS STOCK NEWS

The Valens Company (TSX: VLNS, NASDAQ: VLNS) announced that Institutional Shareholder Services (ISS) and Glass Lewis have recommended shareholders vote in favor of its arrangement with SNDL Inc. This merger is projected to generate over $15 million in additional EBITDA annually through synergies. Shareholders will receive 0.3334 SNDL shares for each Valens share held. The special meeting is scheduled for November 29, 2022, with a proxy voting deadline of November 25, 2022 at 10:00 AM (Toronto time). The arrangement promises significant cost synergies and enhanced market liquidity.

The Valens Company reported Q3 2022 financial results, achieving a $12.2 million improvement in cash flow from operations compared to the previous quarter. Adjusted gross margin increased to 24.9%, while SG&A expenses fell by 28.6%. Provincial sales grew 22.8% to $11.3 million despite challenges from cybersecurity incidents and labor strikes. The company entered an acquisition agreement with SNDL, aiming to create a top-tier, vertically integrated cannabis platform in Canada. Net revenue, however, decreased 15.4% to $20.3 million due to declines in Green Roads revenue and B2B sales.

The Valens Company (TSX: VLNS, Nasdaq: VLNS) will announce its third quarter 2022 financial results on October 13, 2022, prior to market opening. The report will cover the period ending August 31, 2022. Valens is known for its innovative cannabis products, providing processing services and developing goods for various consumer segments, including medical and recreational markets. The company also emphasizes quality and compliance in its operations, maintaining a focus on growth and alignment with consumer preferences.

SNDL and Valens have entered into an agreement for SNDL to acquire all outstanding shares of Valens, creating a major vertically integrated cannabis platform in Canada. Valens shareholders will receive 0.3334 SNDL shares per Valens share, valuing the deal at approximately $138 million, with a 10% premium based on a recent price. The combined entity aims to leverage operational synergies, with an expected annual cost savings of over $10 million, and aims for a quick adaptation to consumer trends. The transaction is set to close in January 2023, pending shareholder and regulatory approvals.

The Valens Company held its Annual General Meeting of Shareholders on August 2, 2022, where six director nominees were elected with significant shareholder support, receiving over 95% of votes in favor. KPMG LLP was also reappointed as auditors. Notably, Aïda Moudachirou-Rébois withdrew her candidacy due to unforeseen circumstances. Valens continues to prioritize governance best practices and aims to enhance board diversity and expertise in key areas. Full voting results are accessible on SEDAR.

Valens Semiconductor (NYSE: VLN) will release its second quarter 2022 financial results on August 10, 2022. A conference call to discuss these results and the business outlook will occur on the same day at 8:30 a.m. ET. Investors can join the call via phone or access a live webcast on Valens' investor relations website. Valens is known for its HDBaseT® technology, crucial in the Audio-Video and Automotive industries, which supports advanced connectivity solutions.

The Valens Company has announced the nomination of Aïda Moudachirou-Rébois, Senior VP and Global CMO of MAC Cosmetics, to its Board of Directors at the Annual General Meeting scheduled for August 2, 2022. This move aims to enhance the board's expertise in consumer packaged goods, increasing the number of independent directors to six. CEO Tyler Robson highlighted Moudachirou-Rébois' extensive brand-building experience as vital for the company's growth strategy. The board would consist of seven directors if all nominees are elected, promoting diversity with two female directors and one identifying as LGBTQIA+.

The Valens Company reported a 3.5% increase in net revenue, reaching $24.0 million in Q2 2022, driven by double-digit growth in Green Roads and B2B segments, despite a decline in provincial sales (down 14.8%). The company has realized $15 million in annual cost savings through Integration Initiatives, exceeding its $20 million target. Valens aims for positive adjusted EBITDA by Q4 2022 and has seen strong market share growth in Canada, now at 3.2%. Following a $52.9 million impairment loss, Valens anticipates impactful cost reductions and improved profitability in upcoming quarters.

The Valens Company has formed a two-year exclusive partnership with Coldhaus Distribution to enhance the distribution of its cannabis products in Ontario, Alberta, and British Columbia. This collaboration aims to leverage Coldhaus's logistics expertise for better store-level representation and brand visibility. The CEO of Valens believes this partnership will accelerate growth in key markets without incurring additional overhead. Coldhaus, entering the cannabis market, sees this as a significant opportunity to build and distribute Valens's impressive product portfolio.