The Valens Company Enters Manufacturing Partnership with MTL Cannabis for Extraction and Manufacturing of Pre-rolls and Vapes

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KELOWNA, BC – The Valens Company Inc. (NASDAQ: VLNS) (TSX: VLNS) (the “Company” or “The Valens Company”), a leading manufacturer of cannabis products, announces it has entered into a manufacturing partnership with Montreal Cannabis Médical Inc. (“MTL” or “MTL Cannabis”) to provide manufacturing and extraction services for MTL’s pre-rolls and vapes.

Valens expects the contract to begin at the end of the first quarter of fiscal 2022.

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MTL is a flower first company cmmitted to bringing craft cannabis to the masses through a five-step process that includes an award-winning hydroponic system, hang-drying, and hand-trimming. With industry-leading yields, MTL offers high quality cannabis at a competitive price point. Since its adult-use market launch in October 2020, MTL Cannabis has emerged as one of Canada’s fastest-growing dried flower consumer brands, placing in the top five in dried flower sales in most provinces.

“MTL has demonstrated the kind of success, consistency and quality that The Valens Company looks for in a partner,” said Tyler Robson, CEO of The Valens Company. “We are excited to expand our presence with one of the fastest growing and reputable flower consumer brands in Canada.”

“Valens not only has one of the broadest ranges of manufacturing capabilities but also shares the same commitment to consumers and quality that we do,” said Richard Clement, CEO of MTL Cannabis. “We look forward to working with Valens to expand our offering for consumers in a greater variety of formats.”

At Valens, it’s personal.

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 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 and its subsidiaries at http://www.thevalenscompany.com.

About MTL

MTL Cannabis is a privately-owned Canadian Licence Holder located in Montreal, Quebec. As a flower-first company built for the modern street, MTL Cannabis is a 57,000 sq ft licensed facility with room to expand to 130,000 sq ft in the existing 2 buildings and possible expansion to over 300,000 sq ft. Under the existing footprint, the indoor facility uses proprietary hydroponic growing methodologies supported by handcrafted techniques to produce products that are truly craft for the masses. MTL Cannabis currently produces over 13,000 kgs annually, yielding over 2kg per light. With supply deals in nine Canadian provinces, the company consistently hits top 5 in dried flower sales. MTL is the recipient of the Grow Up Awards ‘Craft Grower of the Year’ and ‘Best Hydroponic System’ and KIND Magazine’s Budtenders Choice for ‘Sativa of the Year’ for its signature strain, Sage n’ Sour.

MTL Cannabis’ goal has been clear from the start, be the brand that brings the best of the street to the shelves by staying committed to the craft.  Please visit http://www.mtlcannabis.ca/.

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