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The Valens Company Provides Operational and Corporate Update

· 02/05/2021 02:51

07:35 AM EST, 02/05/2021 (MT Newswires) -- The Valens Company (VLNS.TO), which rose 5.3% yesterday, on Friday provided several corporate updates on its new facilities.

Kelowna, B.C.-based Valens said it has commenced its first shipments from its second Kelowna facility, called K2. Construction is also nearing completion at the company's facility in the Greater Toronto Area, the company said, and is in the process of finalizing its Health Canada micro-processing license application and site evidence package. Valens expects to submit its application before the end of this month.

The company also provided an update on its LYF acquisition, another cannabis processor based in Kelowna. LYF received an amendment to its existing license, Valens said, allowing LYF to sell cannabis products directly to authorized retailers.

Valens' TSX-listed shares gained $0.09 or 5.29% in Thursday trading to close at $1.79 per share.

Price: 1.7900, Change: +0.0900, Percent Change: +5.29