The Valens Company Inc lays out operational priorities at its two Cannabis 2.0

The manufacturer of cannabis derivatives issued a corporate update regarding the progress of its second white label and custom manufacturing facility in Kelowna and its facility in the Greater Toronto Area

() () (FRA:7LV) gave shareholders an update on its progress at its two operational facilities in British Columbia and Ontario on Friday. 

The manufacturer cannabis derivatives said in a statement that it had started its first shipments of cannabis derivative products from its new K2 facility in Kelowna, which manufactures white label and custom products. 

Valens told shareholders that it plans to make even more operational improvements at the 42,000-square foot facility to boost production, packaging and shipping of its existing portfolio as well as some upcoming product formats like hash and pre-rolls. 

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“The K2 facility significantly bolsters our market position by giving us the operational footprint and expertise to fulfill the Valens vision and make us the go-to name in cannabis consumer packaged goods manufacturing in Canada and beyond,” said Tyler Robson, Valens CEO in a statement.

“We are in the process of ramping up our K2 Facility in order to accommodate the growth we expect to see in our product volumes, launches and provincial demand – especially as we begin to introduce product formats that are new to the Canadian market.”

At its facility in Ontario’s Greater Toronto Area, the company will focus on manufacturing products using its SōRSE by Valens technology, including the production and co-packing of cannabis-infused beverages. Valens said it is in the process of finalizing its Health Canada cannabis micro-processing licence application and site evidence package for expected submission in February.

Update on LYF deal

Also on Friday, Valens told shareholders that it is preparing to integrate the workforce and platform of its newest acquisition LYF, a premier edibles manufacturer based in Kelowna, British Columbia.

Thanks to a recent amendment to its cannabis processing license from Health Canada, LYF can now start to sell cannabis products, including topicals, extracts and edibles from its manufacturing facility in Kelowna and provide additional sales capabilities to its network of partners rather than through B2B sales channels.

“The Valens team congratulates LYF on this milestone achievement, which is the culmination of years of dedication and hard work,” Valens president Jeff Fallows said.

“Not only will this amended licence work to widen LYF’s domestic reach, but it will also benefit consumers nationwide who have been awaiting increased access to more advanced and innovative edible products at affordable prices. Following the closing of the LYF Acquisition, we look…

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