Health Canada has amended The Valens Company Inc.’s sales license for its Toronto area Pommies manufacturing facility to sell micro processed cannabis products directly to provincial distributors.
Prior to this announcement, Valens leveraged its British Columbia sales license to sell into provincial distributors, which the company says created additional cost and complexity in its supply chain. With this amendment, products produced at its Toronto facility will see a direct route to market.
"Since the opening of our facility in November 2021 we have already seen an increase in our beverage margins," said Valens CEO Tyler Robson. "This amendment will further increase our flexibility and logistical efficiencies to focus on further margin growth, especially with elevated shipping costs throughout Canada. As we have launched more branded products, we have seen our cannabis beverage market share increase from 5.5% in Q1 2021 to 9.0% in Q3 2022 in Alberta, British Columbia, Ontario and Saskatchewan. With this amendment behind us, we look forward to launching more innovative products to keep up with growing consumer demand within the category."