The Valens Company Inc. (TSX:VLNS) (OTCQX:VLNCF) announced Wednesday it has completed a transaction to acquire Verse Cannabis including all of the Verse intellectual property. This acquisition, and Valens' recently announced agreement to acquire Citizen Stash Cannabis Corp., positions Valens as a top-tier cannabis licensed producer in the Canadian industry by total provincial listings and market share.
About Verse Cannabis
Since launching in August 2020, Verse has emerged as a leading cannabis brand with a wide-ranging portfolio that spans all major product categories. With over 90 provincial listings across 7 provinces and territories today, Verse offers a wide selection of high-quality products providing consumers an array of cannabis consumption experiences without the uncomfortably high price point. Valens aims to leverage Verse products as its lead value-focused offering within its brand portfolio.
- Bolstering of the Valens brand portfolio with a leading value brand;
- Expected to be accretive to the Company in 2021 and 2022 before synergies;
- Leverageable portfolio of brands and IP for entrance into the US THC market upon federal legalization;
"The acquisitions of Verse and Citizen Stash were motivated by an underlying desire to become an ally to both our customers and consumers,” said Tyler Robson, CEO and chair of the board of Valens Company. “We believe in creating best-in-class products that consumers deserve in the right way, without ever cutting corners. Whether it's medical or recreational, local or international, third-party owned brands or Valens owned brands, we're pursuing purity in extraction, formulation, product development and testing to bring the benefits of cannabis to the world.”
More recent news from the Valens Company:
The Valens Company’s shares were trading 1.08% lower at $2.37 per share at the time of writing Wednesday morning.