To the average consumer, Valens is a small company that’s been around the corner for a while. But to insiders, Valens is the fastest growing cannabis company in the world. Since valens was formed in 2014 and commercialized in 2016, it has been a top 5 producer in the industry. Valens is an exciting company with exciting products that are creating demand and increasing opportunity.

Valens Life Sciences Inc. (CSE: VQT)(OTC: VLSEF), a late-stage applicant for the use of cannabis and cannabis-derived compounds for various medical devices, announced today that it has issued 5 million units at a price of $3.30 per Unit for closing on August 20, 2017. The units are subject to a four month hold period from the date of issuance. The closing of the units is subject to the approval of the TSX Venture Exchange.

Valens Raises $40 Million Selling Units at $3.30

Valens announces capital increase of C$40 million

KELOWNA, British Columbia, 25. May 20, 2021 /CNW/ – The Valens Company Inc. (TSX: VLNS) (OTCQX: VLNCF) (the Company, The Valens Company or Valens), a leading producer of cannabis products, is pleased to announce that it has reached an agreement with Stifel Nicolaus Canada Inc. (Stifel GMP or the Lead Underwriter), on behalf of a syndicate of underwriters (together with the Lead Underwriter, the Underwriters), pursuant to which the Underwriters have agreed to acquire 12,122,000 units (the Units) of the Corporation at a price of $3.30 per Unit (the Issue Price) for total gross proceeds of $40,002,600 (the Offering). Each Unit will consist of one ordinary share in the capital of the Company (the Ordinary Share) and one-half of one warrant to purchase ordinary shares (each full warrant to purchase ordinary shares – the Warrant). Each warrant will be exercisable for the purchase of one common share (warrant) at an exercise price of $4.15 per warrant for a period of 36 months following the closing of the offering (the Closing), subject to adjustment and acceleration in certain circumstances. If the volume weighted average price of the common stock exceeds $8.25 for ten (10) consecutive trading days, the Company may, within 10 business days of the occurrence of such event, send notice (including a press release) to the holders of the warrants advancing the expiration date of the warrants to a date 30 days after the date of such notice. The Company has granted the Underwriters an option (the Over-allotment Option), exercisable in whole or in part at any time within 30 days of the closing of the Offering, to purchase an additional number of Units equal to 15% of the number of Units sold in the Offering at the Issue Price or to find replacement purchasers to cover any over-allotment and stabilize the market. The Over-allotment Option may be exercised with respect to Participations, Ordinary Shares or Warrants (or a combination thereof). If the over-allotment option is exercised in full, the total gross proceeds of the offering will be $46,002,990. The Company intends to use the net proceeds from the offering to continue its strategic growth initiatives in North America, to fund opportunistic acquisitions and for general corporate purposes. The offer will be made on or about June 1, 2021 and is subject to certain conditions, including receipt of all necessary approvals, including approval from the Toronto Stock Exchange and securities regulatory authorities. The Shares will be offered in all provinces of Canada, other than Quebec, in accordance with the prospectus supplement (the Prospectus Supplement) to the Company’s short form prospectus dated May 28, 2010. January 2021 (Base Shelf Prospectus) and offered by private placement to eligible purchasers residing in jurisdictions other than Canada, by mutual agreement between the Company and Stifel GMP. The Shares will not be offered or sold in the United States or to US persons unless they are offered under Rule 144A or are required to be registered under the U.S. Securities Act of 1933, as amended (the 1933 Act). A prospectus supplement will be filed with the securities regulatory authorities or similar securities regulatory authorities in each of the provinces of Canada, except Quebec. The prospectus supplement and base prospectus contain important detailed information about the company and the proposed offering. Potential investors should read the prospectus supplement, base prospectus and other documents filed by the company before making an investment decision. Copies of the prospectus supplement, when filed, and the base prospectus will be available on SEDAR at www.sedar.com. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States of America, nor will there be any sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act or the U.S. federal securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons without registration or an applicable exemption from the registration requirements of the U.S. Securities Act and the U.S. federal securities laws. About Valens Valens is a leading manufacturer of hemp products with a mission to bring the benefits of hemp to the world. The company offers proprietary cannabis processing services across five core technologies, as well as the development of world-class cannabis products, formulations and consumer products. Valens’ premium products are developed exclusively for the medical, therapeutic, wellness and recreational consumer segments and are offered in a variety of formats, including oils, vapes, concentrates, edibles and topicals, and prerolls, with a focus on next-generation development and innovation. SōRSE™ by Valens’ revolutionary patented emulsification technology transforms cannabis oil into water-soluble emulsions that seamlessly integrate into various product formats for near-perfect dosage, stability and taste. Working with retailers, consumer product manufacturers and licensed cannabis producers around the world, the company continues to expand its diverse product portfolio in response to the changing preferences of cannabis consumers in key markets. Through its wholly owned subsidiary, Valens Labs Ltd, the company sets the standard for cannabis testing, research and development with the only ISO 17025 accredited testing laboratory in Canada, designated as a Centre of Excellence in Plant Sciences by its partner and global scientific leader Thermo Fisher Scientific. For more information about Valens and its subsidiaries, please visit http://www.thevalenscompany.com. Original press release For factual information about The Valens Company, visit the company’s sponsored investor dashboard. Stay ahead of the crowd by subscribing to 420 Investor, the largest and most comprehensive subscription service for cannabis dealers and investors since 2013. Valens Raises $40 Million Selling Units at $3.30 Valens Raises $40 Million Selling Units at $3.30 New Cannabis Ventures is committed to gathering quality content and information about leading cannabis companies to help our readers filter through the noise and stay informed about the most important news in the field. Do you have sensitive information? Please contact us.

 

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