The Valens Company Inc. (OTCMKTS:VLNCF) has provided updates on its global expansion strategy and receipt of an amendment of its current Health Canada standard processing license to commence operations at the second facility in Kelowna.
Valens Australia receives cannabis derivatives import and export license
The company’s wholly-owned Australian subsidiary, Valens Australia Pty Ltd. has received export and import licenses for Schedule 4 and Schedule 8 marijuana-derived products. The export and import ability offers the company strategic market entry opportunities in Australia as well as to neighboring countries in the Asia Pacific region. Also, the licenses established The Valens Company as a leading manufacturer globally with an adaptable platform for serving emerging global markets.
Most importantly in 2021, the company will bring SoRSE by Valens, patented emulsion tech, to Australia and also import several innovative products including topicals, tinctures, and water-soluble drops produce at its Canadian plants. Tyler Robson, the company’s CEO said that they have been laying the foundation on which Valens Australia can operate autonomously.
Equally, the company announced that it completed its first successful shipment to Denmark. This comes after The Valens Company was chosen to support a leading pharmaceutical company’s R&D efforts. The company shipped CBD and THC distillate and CBD isolate samples to Denmark for analysis.
K2 facility to boost manufacturing of cannabis 2.0
Following the Health Canada standard processing license amendment, the company will increase its production capabilities and capacity thus solidifying its position as a leading third-party manufacturer and supplier of high-quality cannabis derivatives. The second Kelowna facility is located next to the K1 facility, equipped with novel technology and manufacturing capabilities to enhance The Valens Company’s output of cannabis derivatives. The scalable facility can manufacture a range of products including sprays, vapes, capsules, topicals, and tinctures as well as small-scale beverage filling.
Robson said that commencing operations at the K2 Facility is a huge milestone in the company’s corporate strategy. The company is looking to expand its manufacturing and processing capacity to maintain speed to market for cannabis derivatives.