The Valens Company Inc. (VLNS)

[FUNMAN]

THE VALENS COMPANY SUBMITS APPLICATION TO LIST ON NASDAQ

Kelowna, B.C., April 28, 2021 – The Valens Company Inc. (TSX: VLNS) (OTCQX: VLNCF) (the “Company,” “The Valens Company” or “Valens”), a leading manufacturer of cannabis products, is pleased to announce that it has submitted an initial application to list its common shares (“Shares”) on the Nasdaq Capital Market (“Nasdaq”).

“We have taken a significant step forward in achieving one of our main goals for 2021 by filing our initial application for listing on the Nasdaq on the back of announcing our first acquisition in the US,” said Jeff Fallows, President of The Valens Company. “We believe that listing in the US will unlock various opportunities to enhance corporate visibility, increase liquidity and broaden overall awareness of The Valens Company to a larger investor base while driving value for our shareholders.”

The listing of the Company’s Shares remains subject to the review and approval by Nasdaq of the Company’s listing application and the satisfaction by the Company of all applicable listing, governance and regulatory requirements. In connection therewith, the Company expects to ask shareholders of the Company (“Shareholders”) to approve a consolidation of the Shares at the next annual and special meeting of Shareholders scheduled for May 25, 2021 (the “Shareholder Meeting”). If the share consolidation is approved at the Shareholder Meeting, the Company believes that it will meet the requirements for listing on the Nasdaq shortly thereafter, including Nasdaq’s financial and liquidity requirements. Further details of the proposed share consolidation will be contained in the management information circular of Valens mailed to Shareholders and to be filed shortly on SEDAR at www.sedar.com.

The Company currently expects that Nasdaq will make a decision on the Company’s application by the end of June 2021. The Shares will continue to be listed on the Toronto Stock Exchange (“TSX”) under the symbol “VLNS”. In addition to the Company’s primary listing on the TSX, the Shares will continue to be quoted on the OTCQX until such time as the Shares may be listed on the Nasdaq, if the Company’s listing application is approved.

Valens has retained Stikeman Elliott LLP in Canada and Foley Hoag LLP in the US as legal counsel to advise the Company throughout the application process.

At Valens, it’s Personal.

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 across five core technologies, in addition to best-in-class product development, formulation and manufacturing of cannabis consumer packaged goods. The Valens Company’s high-quality products are exclusively formulated for the medical, therapeutic, health and wellness, and recreational consumer segments, and are offered across numerous product formats, including oils, vapes, concentrates, edibles and topicals, as well as pre-rolls, with a focus on next-generation product development and innovation. Its breakthrough patented emulsification technology, SoRSE™ by Valens, converts cannabis oil into water-soluble emulsions for seamless integration into a variety of product formats, allowing for near-perfect dosing, stability, and taste. 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 its wholly owned subsidiary Valens Labs Ltd., 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 and its subsidiaries at http://www.thevalenscompany.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Jeff Fallows
The Valens Company

Investor Relations
[e-mail]
1 647.956.8254

KCSA Strategic Communications
Phil Carlson / Elizabeth Barker
[e-mail]
1 212.896.1233 / 1 212.896.1203

Media
KCSA Strategic Communications
Anne Donohoe
[e-mail]
1 212.896.1265

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, whether the Company will be able to fulfill all of listing requirements of the Nasdaq, whether the Shareholders will approve the consolidation of the Company’s shares at the next annual and special meeting of shareholders of the Company, 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.