Valens Company acquires Verse Cannabis
The purchase creates a top tier Canadian licensed producer, Valens says.
In a move designed to position it as one of the leading Canadian cannabis producers, cannabis product maker Valens Company Inc. is acquiring Verse Cannabis.
The acquisition – for an undisclosed amount – comes on the heels of Valens’ recently announced agreement to acquire Citizen Stash Cannabis Corp.
“Since launching in August 2020, Verse has emerged as a leading cannabis brand with a wide-ranging portfolio that spans all major product categories,” Valens officials said in a news release. “Verse has been a pioneer in the value segment starting with its Tropic Lemon 510 thread vape cartridges (including one of the first 1.0g cartridges on the market) and continuing with the recent launch of BC God Bud 28g offering.”
Verse has over 90 provincial listings across seven provinces and territories, the news release added, and Valens aims to leverage Verse products as its lead value-focused offering within its brand portfolio.
“The acquisitions of Verse and Citizen Stash were motivated by an underlying desire to become an ally to both our customers and consumers,” said Valens CEO Tyler Robson. “The expanded platform we have built…is now positioned to better serve current and future customers and consumers through unique product offerings at attractive price points while maximizing shareholder value through Valens branded products.”
Valens in headquartered in Kelowna, B.C.