The Valens Company Appoints New Chairman of the Board and Provides Update on Its Annual General Meeting of Shareholders

KELOWNA, BC, May 16, 2022 /PRNewswire/ – The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS)) (the “Company” “The Valens Company” or “Valens“), a leading manufacturer of branded cannabis products, today announced that it has separated the roles of Chairman and Chief Executive Officer (CEO) and appointed Andrew Cockwell as the new Chairman of the Board of Directors, effective immediately. This decision follows the recent decision of the Company Nasdaq list and its commitment to best governance practices, including transparency and accountability. Tyler Robson resigned as Chairman in full support of this decision and will remain on the Board of Directors and as CEO of the company.

On Andrew Cockwell
Mr. Cockwell is the Managing Partner of Ursataur Capital Management, a private equity firm he founded in 2009 that strategically invests in middle-market Canadian companies across a variety of industries. He has a proven track record in driving value creation for private and public companies, advising on issues such as strategic realignment, operational improvement, capital allocation and governance. Previously, Mr. Cockwell was a founding partner of ReichmannHauer Capital Partners in 2006, a Torontoprivate equity firm targeting both domestic and international investments. He also worked in the Private Equity and Corporate Finance practices of global management advisory firm McKinsey & Company, which he joined in 2003 and where he advised corporates, private equity firms and hedge funds in North America and Europe. Earlier in his career, he practiced mergers and acquisitions and securities law as an attorney at Sullivan & Cromwell in New York and London. Mr. Cockwell has extensive experience in providing financial and legal advisory services in a variety of complex business contexts across a wide range of industries including industrial coatings, ground support, financial services, food and retail. Mr. Cockwell holds a Bachelor of Arts (Honours) degree from Queen’s University and an LL.B. McGill university.

Tyler RobsonChairman and Chief Executive Officer of The Valens Company, said: “Andrew’s proven leadership, combined with his extensive experience in organizational transformation, capital markets and corporate governance, make him the ideal fit for this role. . Having worked closely with Andrew over the past two years, I am convinced that entrusting the Chairmanship to an independent director of his caliber will bring many advantages to Valens and its shareholders. This change will also allow me to devote more time to executing our strategy and managing our growth. look forward to working closely with Andrew to ensure that Valens creates long-term value for all stakeholders, including our employees, shareholders and the community.”

Andrew Cockwell, Chairman of the Board, said: “Over the past three years, Valens has made great strides in its commitment to improving corporate governance from its inception as a CSE-listed company to its dual listing on TSX and Nasdaq. the separation of the Chairman of the Board and the CEO combined with the presence of a majority independent Board of Directors are essential pieces of the puzzle to deliver value not only to our shareholders, but to our entire organization . As we make this announcement today, we will continue to evaluate opportunities for further enhancements to our governance structure as the business continues to evolve. With this in mind, we also conducted a governance review process to identify additional director candidates who will expand our existing skills matrix and further diversify the experience and contributions we currently employ. on behalf of the entire board, i would like to thank tyler for his leadership over the past three years as chair. e to have this opportunity to represent Valens shareholders and I have full confidence in Tyler and the entire management team as they continue to execute on the company’s strategic initiatives and capitalize on this massive opportunity. create sustainable shareholder value.”

Following today’s leadership and governance transition, the Company also announced today that it has been granted an extension under the rules of the Toronto Stock Exchange (the “TSX”) to extend the schedule of its annual general meeting of shareholders (the “meeting”) not later than August 2, 2022. The Company needs additional time to identify, attract and appoint additional qualified diverse director candidates to further strengthen the Board in key areas, including diversity, marketing and CPG branding and the financial markets. This initiative continues the company’s ongoing commitment to good governance by further aligning it with the benchmark public guidelines of US national stock exchanges, including the Nasdaq. The Company will provide an update on the new date of the Meeting in the coming weeks.

At Valens, it’s Personal.

About Valens Company

The Valens Company is a leading cannabis product manufacturer on a mission to bring the benefits of cannabis to the world. The company provides proprietary cannabis processing services, in addition to developing, manufacturing and marketing premium cannabis consumer products. 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 an emphasis on quality and consistency. innovation. The company also manufactures, distributes and sells a wide range of CBD products in United States through its subsidiary Green Roads, and distributes medical cannabis products in Australia. In partnership with brand houses, consumer packaged goods companies and licensed cannabis producers around the world, the company continues to grow its diverse product portfolio in line with evolving cannabis consumer preferences on key markets. By Valens Laboratoriesthe company sets the standard in cannabis testing and research and development with from Canada only ISO17025 accredited analytical services laboratory, named Center of Excellence in Plant Science by partner and global scientific leader Thermo Fisher Scientific. To learn more about The Valens Company, visit http://www.thevalenscompany.com.

Notice Regarding Forward-Looking Statements

All information in this press release, including any information relating to future financial or operating performance and other statements of The Valens Company that express management’s expectations or estimates regarding future performance, other than statements of historical fact , constitute forward-looking information or -forward-looking statements within the meaning of applicable securities laws and are based on expectations, estimates and projections as of the date hereof. Forward-looking statements are included for the purpose of providing information about management’s current expectations and plans regarding the future. Whenever possible, words such as “anticipates”, “anticipates”, “expected”, “trends”, “forecasts”, “future”, “indications”, “potential”, “estimates”, “predicts”, “anticipates”, “establishes”, “believes”, “intends”, “ability to”, or statements that certain actions, events or results “can”, “should”, “could”, “would”, “could”, “will”, or are “likely” to be taken, to occur or to be carried out, or the negative form of these words or other variations thereof, have been used to identify these forward-looking information. Specific forward-looking statements include, without limitation, all information regarding future results of operations, future results of transactions, economic conditions and anticipated courses of action. Investors and other parties are cautioned that there is not necessarily a correlation between the number of SKUs manufactured and shipped and revenues and profits, and undue reliance should not be placed on such information.

Risks and uncertainties that could affect forward-looking statements include, among others, Canadian regulatory risk, Australian regulatory risk, U.S. regulatory risk, U.S. border and travel bans, uncertainties , effects and responses to the COVID-19 pandemic, reliance on licensing, expansion of facilities, competition, reliance on cannabis supply and reliance on other key inputs, reliance on respect of senior management and key personnel, general business risk and liability, regulation of the cannabis industry, change in laws, regulations and guidelines, compliance with laws, operating history limited, vulnerability to rising energy costs, adverse publicity or consumer perception, product liability, property risks i intellectual property, product recalls, difficulties with forecasting, management of growth and litigation, many of which are beyond the control of The Compagnie Valens. For a fuller discussion of the risks faced by The Valens Company, which may cause The Valens Company’s actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by forward-looking information or forward-looking statements, please see The Valens Company’s most recent Annual Information Form filed with the Canadian securities authorities at www.sedar.com or on The Valens Company’s website at www. .thevalenscompany.com. The risks described in this Annual Information Form are incorporated herein by reference. Although the forward-looking statements contained herein reflect management’s current beliefs and reasonable assumptions based on information available to management as of the date hereof, The Valens Company cannot be certain that actual results will be consistent with such information. prospective. Valens cautions you not to place undue reliance on these forward-looking statements. Valens disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Nothing herein should be construed as an offer to sell or a solicitation to buy or sell securities of The Valens Company.

SOURCE La Compagnie Valens inc.