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  • The Valens Company Inc. (VLNS) has acquired all of the issued and outstanding common shares of Citizen Stash
  • Citizen Stash shareholders will receive 0.1620 of a Valens common share for each Citizen Stash Common Share held
  • The arrangement was approved by Citizen Stash shareholders and the Supreme Court of British Columbia
  • The Valens Company is a leading cannabis consumer products company
  • The Valens Company Inc. (VLNS) is up 17.05 per cent, trading at C$2.06 per share at 1 pm ET

The Valens Company Inc. (VLNS) has acquired all of the issued and outstanding common shares of Citizen Stash.

Under the terms of the arrangement, Citizen Stash shareholders are entitled to 0.1620 of a Valens common share for each Citizen Stash Common Share held.

Tyler Robson, Chief Executive Officer and Chair of the board commented on the acquisition.

“With the completion of this acquisition, Valens is poised to strengthen its position in the recreational market with the ownership of premium cannabis genetics, strains and products.”

“As we enter the premium flower category, Valens now boasts a manufacturing and brands portfolio that focuses on two high growth categories of premium flower and 2.0 products. This is just the first step into the premium cannabis product category and consumers can stay tuned to see how we further leverage Citizen Stash’s asset light genetics portfolio to launch new innovative products in the future,” he added.

The arrangement was approved at the special meeting of Citizen Stash shareholders held on November 1, 2021, and by the Supreme Court of British Columbia on November 4, 2021. Shares of Citizen Stash are expected to be delisted from the TSXV at the close of trading on or about November 12, 2021.

“I would like to thank all the Citizen Stash shareholders for their support over the years. Going forward as a combined company, Citizen Stash and Valens are well-positioned to be the leading cannabis company in Canada and beyond. It has been an honour to serve our shareholders and I look forward to the next chapter,” commented Jarrett Malnarich, Chief Executive Officer of Citizen Stash.

The Valens Company is a leading cannabis consumer products company, with expertise in manufacturing cannabinoid-based products and a mission to bring the benefits of cannabis to the world. 

The Valens Company Inc. (VLNS) is up 17.05 per cent, trading at C$2.06 per share at 1 pm ET.

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