Vancouver, British Columbia--(Newsfile Corp. - July 28, 2021) - Harvest One Cannabis Inc. (TSXV: HVT) (OTCQX: HRVOF) ("Harvest One" or the "Company"), a uniquely positioned cannabis-infused consumer packaged goods ("CPG") company, announced today that its wholly-owed subsidiary, Delivra Inc., has granted Valens Agritech Ltd ("Valens"), wholly-owned subsidiary of The Valens Company, a leading manufacturer of cannabis products, an exclusive two-year licence ("Licence") to manufacture, distribute and sell infused LivRelief branded topicals in Canada.
The Company's LivRelief™ CBD cream was the top-selling SKU in the Infused Topicals category in Ontario for the four-month period ended June 2021, by dollars sold, based upon OCS Sales Data. In addition, for the same period, the Company's LivRelief brand captured approximately 27% market share within the Infused Topicals category in Ontario based upon sales revenue. 1
"We are very pleased to partner with The Valens Company after a rigorous and strategic selection process of possible manufacturers and distributors in Canada," said Gord Davey, President and Chief Executive Officer of Harvest One. "Our partnership with The Valens Company will accelerate national and global growth opportunities. Our innovative infused topical with its effective and differentiated delivery system has resonated very well with consumers and established itself as a leader in the Infused Topicals category. We are looking forward to partnering with The Valens Company, a leading expert in the cannabis space with a superior customer service approach, to advance the manufacturing of this product and its future extensions. We will utilize our experience in marketing and distribution to assist in the promotion of the brand and to increase the awareness of cannabis-infused topicals across Canada."
"The LivRelief cannabis-infused topical brand has established itself as a premium and reliable provider of cannabis-infused topicals with a leading-edge proprietary transdermal delivery system that took years of research, innovation, and dedication to develop," said Tyler Robson, Chief Executive Officer, Co-Founder and Chair of The Valens Company. "We are proud to manufacture these top-selling creams in partnership with Harvest One and provide both new and experienced consumers the comfort to engage with cannabis-infused topicals naturally. We will also leverage our best-in-class manufacturing capabilities to help Harvest One expand their LivRelief portfolio to include next-generation delivery formats, further strengthening our capabilities and offerings in the health and wellness vertical which is a key area of focus for Valens."
LivRelief cannabis infused products are available nationally through Medical Cannabis by Shoppers™ as well as in cannabis stores throughout Ontario, British Columbia, Alberta, Saskatchewan, Manitoba and New Brunswick.
LivRelief infused topicals are currently available in three unique SKUs - a CBD-only formulation containing 250mgs of CBD, a 1:1 format formulation containing 125mgs of THC and 125mgs of CBD, and an extra strength CBD topical cream containing 750mgs of CBD.
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Notes
1. Data cited is based on sales information provided by OCS.
About Harvest One
Harvest One is a global cannabis infused CPG leader that develops and distributes premium health, wellness and selfcare products with a market focus on sleep and pain. Harvest One is a uniquely positioned company in the cannabis space with a focus on cannabis infused and non-infused consumer packaged goods. Harvest One owns and operates two subsidiaries; Dream Water Global and LivRelief. For more information, please visit www.harvestone.com.
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 at http://www.thevalenscompany.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements include, among other things, statements with respect to the anticipated benefits of the Licence granted to Valens, anticipated synergies with the partnership with The Valens Company, the distribution of the Company's products into different regions, future expansion plans, initiatives and strategies of the Company, and the Company's performance, growth initiatives, profitability, production capacity and gain in market share.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: implications of the COVID-19 pandemic on the Company's operations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the cannabis markets where the Company operates; changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; employee relations and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution, and sale of cannabis and cannabis-related products in the markets where the Company operates. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Additional information regarding this and other risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's annual information form dated as of March 2, 2021, for the year ended June 30, 2020, and under the heading "Risks and Uncertainties" in the Company's Management's Discussion and Analysis dated October 28, 2020, for the year ended June 30, 2020, filed under the Company's profile on SEDAR at www.sedar.com.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accept responsibility for the adequacy or accuracy of this release.
Investor Relations:
Jack Tasse
Investor Relations
IR@harvestone.com
1-877-915-7934
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