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Cannabis manufacturer The Valens Company Inc. (TSX:VLNS) (OTCQX:VLNCF) revealed Monday it has reached the Québec cannabis market. The Kelowna, British Columbia-based company executed a letter of intent with Société québécoise du cannabis for the distribution of its cannabis products into the third-biggest cannabis market in Canada.
Valens noted that the move represents a notable milestone for the company, considering that Québec accounts for around 15% of Canadian cannabis retail sales and approximately 22% of the Canadian population.
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"We are pleased to announce the entrance into the Québec marketplace," said Tyler Robson, CEO, co-founder and chair of The Valens Company. "This an important milestone for The Valens Company with a national distribution platform that now makes our products accessible to over 95% of the Canadian population. This letter of intent showcases our innovation and consumers should expect new product offerings coming to the Québec marketplace soon. We expect our products to be first available at the beginning of 2022."
More recent news from Valens:
The Valens Company And Marijuana Retailer Fire & Flower Enter White Label Partnership
The Valens Company Gains Access to GMP Manufacturing in Australia, Expands International Outreach
Price Action
Valens’ shares closed Friday market session 17.48% lower at $1.54 per share.
Photo: Courtesy of Sondoce wasfy on Unsplash
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.