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Wednesday, August 10, 2022

The Valens Signs Deal With Gallery Brands to Manufacture Edibles and Beverages

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The Valens (VLNS), a leading manufacturer of cannabis products, has announced that it has entered into a manufacturing agreement with Gallery Brands, a premier cannabis brand house. Under the deal, The Valens will manufacture cannabis-infused beverages and edibles for Blessed and flir, two of Gallery’s flagship brands.

The Valens’ CEO, Co-Founder, and Chair, Tyler Robson, said, “This partnership builds on our balanced portfolio of custom manufacturing agreements with brand houses looking to offer differentiated cannabis products to Canadian consumers across a range of categories. We are thrilled to partner with a company that recognizes and addresses unique customer preferences and is known in the industry for its innovative branding and strong retail and distribution network across the country.”

The Blessed brand was founded by Angelina Blessed and is inspired by her career as a professional Muay Thai fighter. It offers health and wellness-focused cannabis products containing essential elements for intense sports recovery. The flir brand, created by chocolate maker and cooking enthusiast Riley Starr, celebrates exceptional ingredients alongside the cannabis edibles experience, delivering epicurean cannabis-infused products to discerning consumers.

The Valens Company will use its patented SōRSE™ by Valens internal emulsion technology to manufacture both beverages and edibles for Blessed and flir. (See The Valens stock chart on TipRanks)

Last week, Desjardins analyst John Chu maintained a Buy rating on the stock and raised its price target to C$4.25. This implies 43.6% upside potential.

Overall, the consensus is that VLNS is a Strong Buy, based on 4 Buys and 1 Hold. The average Valens price target of C$4.25 implies 43.7% upside potential to current levels. Shares have gained more than 70% year-to-date.

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The post The Valens Signs Deal With Gallery Brands to Manufacture Edibles and Beverages appeared first on TipRanks Financial Blog.

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