The Valens Company secures agreement for Green Roads Kiosks in major malls across the United States
The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) (the “Company” “The Valens Company” or “Valens”), a leading manufacturer of cannabis products is pleased to announce that its wholly-owned subsidiary Green Roads, Inc., has entered into an agreement with Signifi Solutions, Inc. to place cloud managed Green Roads smart kiosks in various premium mall locations around the U.S.
Green Roads and Signifi Solutions, Inc. have agreed to partner to initially install the smart kiosks in dozens of premium mall locations in bustling retail markets in the U.S., including New York, Florida, Arizona, Texas, and Colorado, among others. The agreement also includes the potential for an additional 60 mall locations in 2022. The first kiosk is expected to go live in June 2022 and is expected to include a full assortment of Green Roads products aimed at helping consumers with common health and wellness challenges such as stress, sleep, muscle and joint pain, relaxation, and focus.
“This partnership gives Green Roads access to some of the largest mall locations in the U.S., thereby increasing overall brand awareness and opening a new revenue opportunity given the premium mall high foot traffic. This opportunity combines world-class wellness products produced by Green Roads with cutting-edge smart kiosk technology developed by Signifi Solutions and premium mall locations” said Tyler Robson, Chief Executive Officer, and Chair of The Valens Company. “We intend to offer a full array of Green Roads products in smart kiosks and using technology that we expect to be able to gather and understand both sales data and customer demographics on a real-time basis.”
“We couldn’t be more pleased to have Valens and Green Roads as our clients,” said Shamira Jaffer, CEO of Signifi Solutions, Inc. “We selected Green Roads after careful review of their product breadth, quality reputation, and organizational commitment to compliance and excellence. Signifi will provide smart Kiosk technology, with built-in digital screens that can be changed in real-time to align with demographic and sales data. Our technology delivers consumers an elevated, convenient experience including a secure platform to purchase Green Roads products. Through the smart kiosks, Green Roads will receive a robust real time data that will allow them to optimize the performance of each individual kiosk.”
“To our knowledge, no other CBD company has combined this level of technology with the sale of its products,” Mr. Robson added.
“This is the first of several initiatives that Valens and Green Roads are taking to expand distribution channels in the U.S. and abroad” said Jeff Fallows, President of The Valens Company. “This opportunity with Signifi Solutions is the perfect platform to drive discovery, trial, and frequency of purchase from the premium consumer base of malls.”
At Valens, it’s Personal.
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 in addition to best-in-class product development, manufacturing, and commercialization of cannabis consumer packaged goods. The Valens Company’s high-quality products are formulated for the medical, health and wellness, and recreational consumer segments, and are offered across all cannabis product categories with a focus on quality and innovation. The Company also manufactures, distributes, and sells a wide range of CBD products in the United States through its subsidiary Green Roads, and distributes medicinal cannabis products to Australia through its subsidiary Valens Australia. 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 Valens Labs, 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 at http://www.thevalenscompany.com.
Green Roads, a subsidiary of The Valens Company (TSX: VLNS) (NASDAQ: VLNS), is an award-winning company that produces high-quality wellness products including those with hemp-derived CBD and other beneficial cannabinoids. Green Roads is on a mission to help every person find the healthiest version of themselves through the power of plants, whether it be through premium CBD products or those with functional mushroom ingredients.
Green Roads is unique in that it is one of a very small number of CBD brands to produce their own products in their own cGMP and FDA-registered facility. Green Roads products are sold in over 7,000 retail locations and online at GreenRoads.com.
Signifi Solutions is a global innovator delivering end-to-end solutions in I.T. Asset Management, Loss Prevention and Automated Retail. Signifi’s modular hardware and VISION platform are developed and engineered in-house to deliver custom solutions that enable new sources of revenue, brand visibility, customer engagement, and operating cost reductions. Steeped in continuous innovation and marketplace collaboration, Signifi brings the most cutting-edge self-serve and automated customer experiences in the market today.
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 and include statements regarding stabilization of inventory investment, impacts to our cost structure and anticipated positive EBITDA for future periods. 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, 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 and its Annual Report on Form 40-F for the year ended November 30, 2021 filed with the SEC at www.sec.gov. The risks described in such Annual Information Form and Annual Report on Form 40-F 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.
