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Valens joins Food, Health & Consumer Products of Canada to expand its product footprint and educate members about cannabis

Joining FHCP is expected to help Valens establish a broader consumer packaged goods presence and further normalize cannabinoid products, a segment which now includes various health and wellness formats

Shopping cart pushed by blue-clad arms down a grocery aisle
The FHCP’s mission is to create a favorable business environment that enables its members to bring innovative products to market, promotes environmental stewardship, and standardizes product labelling

The Valens Company Inc (TSE:VLNS) (OTCQX:VLNCF) (FRA:7LV) announced its associate membership Thursday in Food, Health & Consumer Products of Canada (FHCP), an association representing small independently owned companies and multinationals alike, all of whom manufacture and distribute consumer packaged goods (CPG) domestically. 

The FHCP’s mission is to create a favorable business environment that enables its members to bring innovative products to market, promotes environmental stewardship, and standardizes product labelling all so Canadians have choices and access to safe and high-quality products. 

Joining FHCP is expected to help Valens establish a broader CPG footprint and further normalize cannabinoid products, a segment which now includes various health and wellness formats that customers might not expect, such as beverages and bath and beauty products, the company said. 

READ: Valens introduces THC and CBD water-soluble drops to its Verse Originals product line

"As the only cannabis company in FHCP, our aim is to build out the category using data-driven consumer insights and respond to consumer needs in medical, recreational, as well as health and wellness segments," Valens CEO Tyler Robson said in a statement. "With Cannabis 2.0 and now Cannabis 3.0 products entering the market, we are working to create space within the CPG category where cannabis is part of the conversation. Consumers are already there, which just makes our membership with the FHCP a natural fit to their work and mission."

The relationship with FHCP will allow Valens to create strategic category-building connections with more than 100 of Canada's top CPG companies, while also allowing the company to educate FHCP members about the benefits of major as well as minor, non-intoxicating cannabinoids. 

As a member, Valens will get the chance to work with CPG peers and facilitate discussion through seminars, workshops and presentations. The company said it will rely on its experience in cannabinoid research, product development and large-scale manufacturing and work with FHCP in developing insights for members looking to learn more about the cannabis industry.

"Our mission at FHCP is to create and shape a competitive operating environment that fosters innovation and growth for our members, which includes developing categories such as high-quality cannabinoid-based products," FHCP CEO Michael Graydon said. "Valens' membership will serve both to educate our members as well as bring cannabis and cannabis products into the conversation when it comes to things like policy discussions, safety and standards, and we're excited to have them on board."

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

Quick facts: The Valens Company

Price: 2.75 CAD

TSX:VLNS
Market: TSX
Market Cap: $352.97 m
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