Benzinga | Sep 16, 2021 08:09PM EDT

Cannabis In Central America: Valens Co. Announces Strategic Distribution Agreement of Wellness Products in Costa Rica

The Valens Company Inc. (TSX:VLNS) (OTCQX:VLNCF), a leading manufacturer of cannabis products, announced late Thursday that it has signed a regional distribution agreement with APOTEKA SRL, a division of GFI Costa Rica, a pharmaceutical holding company with operations throughout Central America and the Caribbean.

Under the agreement, APOTEKA will bring Valens' nance brand, with future plans to include the Green Roads brand, into three core Central American markets: Costa Rica, the Dominican Republic and Panama.

Valens has developed two CBD tinctures for APOTEKA that combine known wellness ingredients with CBD.

Tyler Robson, CEO, and chair of The Valens Company said, "This partnership with APOTEKA, part of GFI Costa Rica, a multiregional conglomerate with a 45-year track record, is consistent with our distribution first, asset-light, growth model in international markets. The partnership represents a strategic expansion into Central America."

Recent Valens Company Moves

Earlier this month, Valens announced a white label partnership with Fire & Flower Holdings Corp. (TSX:FAF) (OTCQX:FFLWF), a leading, cannabis retailer with over 90 corporate-owned stores in Canada.

Under the terms of the agreement, Valens will manufacture Fire & Flower's Revity CBD oil for distribution in Ontario, Manitoba and Saskatchewan.

In addition, Valens completed a transaction to acquire Verse Cannabis including all of the Verse intellectual property.

This acquisition, and Valens' recently announced agreement to acquire Citizen Stash Cannabis Corp., positions Valens as top-tier cannabis licensed producer in the Canadian industry by total provincial listings and market share.

Robson said that Valens' platform is now positioned to "better serve consumers through unique product offerings at attractive price points while maximizing shareholder value."