It’s worth noting that Valens Groworks Corp (OTCMKTS:VLNCF) just announced three new nominees to stand for election to its Board of Directors at the Annual and Special Meeting of the Shareholders of The Valens Company to be held on June 12, 2020, including Ms. Karin A. McCaskill, Former SVP, General Counsel, and Corporate Secretary of Empire Company Limited and Sobeys Inc., Mr. Andrew Cockwell, Managing Partner and Co-Founder of Ursataur Capital Management, and Ms. Renee Merrifield, CEO and Founder of Troika Management Corp.
According to the release, collectively, the new nominees bring a wealth of legal, financial, and business knowledge and experience to the Board, having provided strategic advisory across a number of industries, serving major corporations, leading financial institutions, as well as public and private boards across the country. The nominations come as The Valens Company continues to strengthen its corporate governance policies to support its growth, including proposing changes to the Board to allow for more independent advisory, in addition to refreshed perspectives, expertise, and capabilities that reflect the evolution of the business.
Valens Groworks Corp (OTCMKTS:VLNCF) trumpets itself as a company that engages in development and manufacturing of cannabinoid based products.
The company operates through Cannabis Operations and Analytical Testing. The Cannabis Operation segment provides extraction, post processing, and white label manufacturing under the standard processing and standard cultivation license issued by Health Canada.
The Analytical Testing segment offers testing services for cannabis products under an analytical testing license provided by Health Canada. The company offers CO2, ethanol, hydrocarbon, solvent-less and terpene extraction, formulation, and white-label product development services. Further, it produces dried cannabis and hemp biomass products.
Additionally, the company provides range of products, including tinctures, two-piece caps, soft gels, oral sprays and vape pens, as well as beverages, concentrates, topicals, edibles, injectables, natural health products. It also offers analytical testing services to third party licensed producers in the cannabis space. The company offers a CBD-forward iced tea and a THC-forward citrus water under BASECAMP and SUMMIT brand names.
Valens Groworks Corp. was incorporated in 1981 and is headquartered in Kelowna, Canada.
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As noted above, VLNCF just announced three new nominees to stand for election to its Board of Directors at the Annual and Special Meeting of the Shareholders of The Valens Company to be held on June 12, 2020.
Recent action has seen 16% added to share values of the name over the past month of action. In addition, the name has registered increased average transaction volume recently, with the past month seeing 9% over the long run average.
“We are excited to nominate Ms. Karin A. McCaskill, Mr. Andrew Cockwell, and Ms. Renee Merrifield to our Board of Directors,” said Tyler Robson, CEO of The Valens Company. “The combined expertise of these highly accomplished individuals will help us continue with our initiatives to strengthen existing corporate governance policies and provide advice on various legal, financial, and administrative processes. This new slate of Directors put forward for election will provide the support critical to guide Valens through our next phase of growth as we continue our development into a leading, global custom manufacturer. We are highly confident in the strength of our new Board and the contributions they will put forth to help increase return on investment for our shareholders. I would like to thank Mr. Chris Irwin and Mr. Chris Buysen for their contributions to Valens during their time on the Board,” concluded Mr. Robson.
Now commanding a market cap of $238M, VLNCF has a significant war chest ($44.4M) of cash on the books, which must be weighed relative to about $48M in total current liabilities. One should also note that debt has been growing over recent quarters. VLNCF is pulling in trailing 12-month revenues of $87.9M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 1340.4%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $VLNCF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $VLNCF, either long or short, and we have not been compensated for this article.