The Valens Company Inc. announced that it has entered into a custom manufacturing agreement with Experion Biotechnologies Inc. Under the agreement, Valens will provide end-to-end pre-roll manufacturing and product distribution services to Experion – the Company's first custom manufacturing agreement of this nature following the receipt of its Health Canada licence amendment to sell dried cannabis products. In partnership, Valens and Experion will expand the pre-roll offering for Experion's popular Citizen Stash brand, which is focused on providing consumers the highest quality handcrafted, small batch cannabis. The terms of the agreement support a minimum two-year partnership with monthly minimum order quantities.

Valens and Experion are in continued discussions to expand the existing agreement to include additional product development and custom manufacturing services for a range of next generation products beyond gummies, which are currently being manufactured at the LYF facility, and pre-rolls. There is, however, no assurance that any such deal would be reached. Additionally, on March 5, 2021, Valens announced the closing of its acquisition of LYF.

In connection with the LYF acquisition and per the requirements of the Toronto Stock Exchange, Valens carries out its operations in compliance with the applicable laws of each jurisdiction in which the Company operates with respect to the cultivation, distribution, sale, or possession of cannabis (including laws applicable to anti-money laundering) to the extent applicable to the activities being undertaken by the Company in such jurisdiction.