The Valens Co

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Valens Groworks is a biotechnology company that specializes in cannabis extraction, testing, analytics, and manufacturing. It focused on being the partner of choice for Canadian and international cannabis brands by providing proprietary services including CO2, ethanol, hydrocarbon, solvent-less and terpene extraction, analytical testing, formulation, and white-label product development. The company provides diverse extraction methods to develop premium products based on their needs. The Valens Groworks seeks to capture a broad spectrum of medical cannabis users, and adult recreational users once legalized, as well as clinical trial and R&D clients, in pursuit of its ambitious seed-to-sale and farm-to-pharma objectives. The company was founded in 2010 and headquartered in Kelowna, British Columbia.

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The most consistent progress in cannabis is coming from states continuing to roll out legalization programs. For cannabis companies wanting to make a profit in these legal markets, there is both opportunity and a need to navigate growing pains.

Markets Don't Move In Straight Lines

SNDL Inc, the largest private sector liquor and cannabis retailer in Canada, revealed that it has completed the previously disclosed acquisition of all the issued and outstanding shares of The Valens Company (TSX:VLNS, OTCQX:VLNCF) Inc for around $138 million in SNDL shares and the assumption of Valens' $60 million non-revolving term loan facility. With approximately $262.5 million in net cash and no debt, SNDL will continue to have one of the strongest balance sheets in the North American cannabis industry.

The Valens Company acquisition wrapped up by Canada's largest private liquor and cannabis retailer SNDL

SNDL Inc.

Creates a low -cost vertically integrated Canadian company   generating over a billion dollars in annualized pro forma revenue 1 CALGARY, AB , Jan. 17, 2023 /PRNewswire/ - SNDL Inc. (Nasdaq: SNDL) ("SNDL" the "Company") is pleased to announce the completion of the previously disclosed acquisition of all of the issued and outstanding common shares ("Valens Shares") of The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) ("Valens"), other than those held by SNDL and its subsidiaries, pursuant to a plan of arrangement under the Canada Business Corporations Act (the "Transaction"), for total consideration of approximately $138 million 2 consisting of common shares of SNDL ("SNDL Shares") and assumption of Valens' $60 million non-revolving term loan facility. All financial information in this press release is reported in Canadian dollars unless otherwise indicated.

SNDL Completes Acquisition of The Valens Company

An acquisition dating from last summer has finally closed.

Why SNDL Stock Flew as High as 5% on Tuesday

KELOWNA, BC , Jan. 3, 2023 /PRNewswire/ -  The Valens Company Inc. (TSX: VLNS) (NASDAQ: VLNS) ("The Valens Company" or "Valens"), a leading manufacturer of cannabis products, is pleased to announce today that the Ontario Superior Court of Justice (Commercial List) has granted a final order approving the previously announced plan of arrangement (the "Arrangement") with SNDL Inc. ("SNDL") under Section 192 of the Canada Business Corporations Act in accordance with the terms of the arrangement agreement between Valens and SNDL dated August 22, 2022. Under the terms of the Arrangement, Valens' shareholders will receive, for each common share of Valens (each, a " Valens Share "), 0.3334 of a common share of SNDL (the "Offer Exchange Ratio").

THE VALENS COMPANY OBTAINS FINAL COURT ORDER APPROVING THE PROPOSED PLAN OF ARRANGEMENT WITH SNDL

KELOWNA, BC , Dec. 13, 2022 /PRNewswire/ -  The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) (the "Company", "The Valens Company" or "Valens"), a leading manufacturer of cannabis products, announced today it received an extension of 180 calendar days from the Nasdaq Stock Market LLC ("Nasdaq") to regain compliance with the Nasdaq's minimum $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market (the "Bid Price Requirement"), following the expiration of the initial 180 calendar days period to regain compliance on December 12, 2022. The Nasdaq determination is based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market with the exception of the Bid Price Requirement, and the Company's written notice of its intention to cure the deficiency during the second compliance period by effecting a share consolidation, if necessary.

The Valens Company Granted Additional 180 Calendar Day Grace Period by Nasdaq to Regain Compliance with Minimum Bid Price Rule

The Valens Company (TSX:VLNS, OTCQX:VLNCF) announced that its shareholders have voted overwhelmingly in favour of the resolution approving the plan of arrangement under which SNDL Inc will acquire all of the issued and outstanding common shares of the company. The plan of arrangement is on the basis of 0.3334 of an SNDL common share bring offered for each outstanding Valens common share.

The Valens Company says shareholders overwhelmingly vote in favour of takeover by SNDL

KELOWNA, BC , Nov. 29, 2022 /PRNewswire/ - The Valens Company Inc. (TSX: VLNS) (NASDAQ: VLNS) (the "Company" or "Valens") is pleased to announce that its shareholders have voted in favour of the resolution (the "Resolution") approving the plan of arrangement pursuant to which SNDL Inc. ("SNDL") will acquire all of the issued and outstanding common shares of Valens on the basis of 0.3334 of a SNDL common share for each outstanding Valens common share (the "Arrangement"), on and subject to the terms of the arrangement agreement dated August 22, 2022 to which Valens and SNDL are parties (the "Agreement"). Over 96% of votes cast at the Company's special meeting of shareholders held on November 29, 2022 were in favour of the Resolution.

Valens Shareholders Vote in Favour of the Arrangement with SNDL

ISS highlights that "the arrangement is expected to produce upwards of $15 million of additional EBITDA on an annual run-rate basis through synergies and other strategic initiatives" and that "shareholder approval of arrangement resolution is warranted" Glass Lewis cites the strategic rationale as one of the keys reasons for recommending shareholders vote FOR the Arrangement Shareholders are encouraged to vote well in advance of the proxy deadline of November 25, 2022 at 10:00 a.m. (Toronto time) Shareholders who have questions or need assistance in voting should contact Laurel Hill Advisory Group by telephone at 1-877-452-7184 (North American Toll Free) or 1-416-304-0211 (Outside North America), or by email at assistance@laurelhill.com KELOWNA, BC , Nov. 22, 2022 /PRNewswire/ - The Valens Company Inc.

BOTH LEADING INDEPENDENT PROXY ADVISORS RECOMMEND SHAREHOLDERS OF THE VALENS COMPANY INC. VOTE FOR THE PROPOSED ARRANGEMENT WITH SNDL INC.

The Valens Company (TSX:VLNS, OTCQX:VLNCF) said it has received a sales licence amendment from Health Canada for its Pommies manufacturing facility located in the Greater Toronto Area (GTA) to sell micro-processed cannabis products directly to provincial distributors.  Prior to this announcement, Valens leveraged its British Columbia sales licence to sell into the provincial distributors which created additional cost and complexity in our supply chain.

The Valens Company receives sales licence amendment from Health Canada for its Pommies manufacturing facility

KELOWNA, BC , Nov. 2, 2022 /PRNewswire/ - The Valens Company Inc. (TSX: VLNS) (NASDAQ: VLNS) (the "Company" or "Valens") (the "Company," "The Valens Company" or "Valens"), a leading manufacturer of cannabis products, announced it has received a sales licence amendment from Health Canada for its Pommies manufacturing facility located in the Greater Toronto Area (the "GTA Facility") to sell micro processed cannabis products directly to provincial distributors. Prior to this announcement, Valens leveraged its British Columbia sales licence to sell into the provincial distributors which created additional cost and complexity in our supply chain.

Valens Secures Sales Licence for Greater Toronto Area Beverage Facility

Valens Shareholders will receive 0.3334 SNDL shares per Valens share, representing a premium of approximately 48% on the 10-day VWAP of the Valens shares on the TSX prior to the signing of a non-binding expression of interest related to the transaction Shareholders are encouraged to vote well in advance of the proxy deadline of November 25, 2022 at 10:00 a.m. (Toronto time) Shareholders who have questions or need assistance in voting should contact Laurel Hill Advisory Group by telephone at 1-877-452-7184 (North American Toll Free) or 1-416- 304-0211 (Outside North America), or by email at assistance@laurelhill.com KELOWNA, BC , Oct. 27, 2022 /PRNewswire/ - The Valens Company Inc.

THE VALENS COMPANY ANNOUNCES MAILING AND FILING OF CIRCULAR FOR SPECIAL MEETING OF SHAREHOLDERS TO APPROVE ARRANGEMENT WITH SNDL INC.

The Valens Company (TSX:VLNS, OTCQX:VLNCF)'s 3Q 2022 results reported on October 12 show robust controls while growing recreational cannabis sales, according to Stifel GMP analysts, who have reiterated their ‘Buy' rating on the stock. In a note to clients, the analysts maintained their target price of C$1.20.

Stifel GMP analysts repeat ‘Buy' rating and C$1.20 price target for The Valens Company on robust 3Q results

The Valens Company (TSX:VLNS, OTCQX:VLNCF) Inc has reported a higher adjusted gross profit of $5.1 million for the third quarter compared to $4.1 million in the previous quarter, benefitting from its integration initiatives which resulted in process-related efficiencies as well as from optimizing biomass and input sourcing and the commissioning of new automation equipment. "Our third quarter results clearly show that we are executing on the most important initiative in this environment, which is cash flow.

The Valens Company reports higher 3Q adjusted gross profit as integration initiatives kick in

Cash flow from operations improved by $12.2 million quarter-over-quarter, exceeding previous guidance Continued to realize the benefits of Integration Initiatives, with adjusted gross margin(1) expanding to 24.9% of net revenue in Q3 2022 compared to 17.2% of net revenue in Q2 2022 and SG&A declining 28.6% in Q3 2022 from Q2 2022 Provincial sales rebounded strongly in Q3 2022 with net sales increasing 22.8% to a record $11.3 million from $9.2 million in Q2 2022 Top 10 licensed producer in Canada, with a 3.4% market share for the month of August 2022 (3) Entered into an arrangement agreement to be acquired by SNDL, creating a leading vertically integrated entity with the highest pro forma cannabis revenue in Canada KELOWNA, BC , Oct. 13, 2022 /PRNewswire/ - The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) (the "Company", "The Valens Company" or "Valens"), a leading manufacturer of cannabis products, is pleased to report its third quarter fiscal year 2022 financial results for the period ended August 31, 2022. "Our third quarter results clearly show that we are executing on the most important initiative in this environment which is cash flow.

The Valens Company Reports Third Quarter Fiscal 2022 Financial Results

KELOWNA, BC , Oct. 6, 2022 /PRNewswire/ - 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 it will issue its third quarter 2022 financial results for the period ended August 31, 2022, on Thursday, October 13, 2022, before market open. About The Valens Company The Valens Company is a leading manufacturer of cannabis products with a mission to bring the benefits of cannabis to the world.

The Valens Company to Release Financial Results for the Third Quarter of 2022

SNDL recently announced plans to acquire Valens.

Does SNDL's Latest Acquisition Make the Stock a Buy?

The Valens Company (TSX:VLNS, OTCQX:VLNCF) Inc investors have the opportunity to continue participating in the company's story following the announcement that the cannabis producer is being acquired by private liquor and cannabis retailer SNDL Inc in a $138 million all-share deal, according to analysts at Stifel GMP.  In a note, analysts awarded the stock a ‘Buy' rating but lowered their price target from C$3.50 to C$1.20 to reflect the takeover offer.

The Valens Company remains an 'attractive risk-adjusted opportunity' following acquisition announcement according to Stifel GMP analysts

The Valens Company (TSX:VLNS, OTCQX:VLNCF) Inc has reached a deal to be acquired by SNDL Inc, the largest private sector liquor and cannabis retailer in Canada, for about $138 million, according to a statement. SNDL's retail banners include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, and Spiritleaf.

The Valens Company acquired by Canada's largest private sector liquor and cannabis retailer SNDL in $138M stock deal

CALGARY, AB and KELOWNA, BC , Aug. 22, 2022 /PRNewswire/ - SNDL Inc. (Nasdaq: SNDL) ("SNDL") and The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) ("Valens") are pleased to announce today that they have entered into an arrangement agreement (the "Agreement") to combine their businesses and create a leading vertically integrated cannabis platform. Pursuant to the terms of the Agreement, SNDL will acquire all of the issued and outstanding common shares of Valens ("Valens Shares"), other than those owned by SNDL and its subsidiaries, by way of a statutory plan of arrangement (the "Transaction").

SNDL Announces Agreement to Acquire The Valens Company to Create Leading Vertically Integrated Cannabis Platform

KELOWNA, BC , Aug. 3, 2022 /PRNewswire/ - The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) (the "Company", "The Valens Company" or "Valens") a leading manufacturer of cannabis products, today announced the voting results from its Annual General Meeting of Shareholders (the "Meeting"), held by way of live audio webcast on August 2, 2022. Six of the director nominees that were put forward by the Company were elected by shareholders at the Meeting to hold office until the next annual meeting of shareholders or until their successors are elected or appointed.

The Valens Company Announces Results of Annual General Meeting of Shareholders

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The Valens Company (TSX:VLNS, OTCQX:VLNCF) Inc has announced that Aida Moudachirou-Rebois, senior vice-president and global chief marketing officer at MAC Cosmetics, intends to stand for election to the company's board of directors at its annual shareholders' meeting on August 2, 2022. The company noted that Moudachirou-Rebois has extensive experience leading and developing global brands at major multinational corporations, where she has proven adept at building and sustaining both revenue and profit growth through innovation, new product categories, and defining consumer experiences.

The Valens Company nominates marketing and branding expert Aida Moudachirou-Rebois for election to company's board

Nominee will strengthen board experience matrix with global consumer packaged goods brand building expertise Nominee would increase the number of independent directors to six KELOWNA, BC , July 19, 2022 /PRNewswire/ - The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) (the "Company" "The Valens Company" or "Valens"), a leading manufacturer of branded cannabis products, today announced that Ms. Aïda Moudachirou-Rébois, Senior Vice President and Global Chief Marketing Officer at MAC Cosmetics, intends to stand for election to its Board of Directors (the "Board") at the Annual General Meeting of Shareholders of The Valens Company to be held on August 2, 2022 (the "Meeting").

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