The Valens Company Enters US Market with Agreement to Acquire Leading CBD Company, Green …

Additionally, the Acquisition provides immediate entry into the US market with a trusted and leading CBD health and wellness brand with an established manufacturing and distribution platform.

Green Roads boasts a leading market share and brand platform in the US CBD industry, with an extensive distribution network consisting of over 7,000 retail stores and a robust e-commerce and marketing platform with over 30,000 five-star reviews across all its product lines.

The acquisition of Green Roads represents only the first step in our US expansion strategy as we expect to continue to unlock complementary, revenue-generating opportunities while we forge our presence and build our reputation in the world’s largest cannabinoid market.

Dale Baker, President & Chief Operating Officer of Green Roads, said: “Since its inception, Green Roads has led the US CBD industry with a ‘people first’ philosophy, producing what we view as the highest quality products while putting consumer protection and education at the forefront.

The purchase price payable on closing is US$40.0 million, including the issuance of approximately US$25.4 million in common shares of the Company and up to US$14.6 million in cash.

The Green Roads Acquisition remains subject to approval from the Toronto Stock Exchange and customary conditions and approvals, including Valens’ lender approval.

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Sources: 1 Statistics Canada, Brightfield Group 2 Brightfield Group 3 Based on Green Roads’ unaudited financials for 2020.

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.

Through premium CBD oils, edibles, soft gels, capsules, topicals, coffee, and more, Green Roads is on a mission to help every person find the healthiest version of themselves through the power of plants.

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.

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.

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