The Valens Company, a manufacturer of cannabis products, announced that it has received authorization to contract or subcontract with a public body from the Autorité des marchés publics (AMP) in Quebec. With this authorization, Valens can now apply to become a registered vendor to supply goods and services in Quebec. This marks a significant step toward entering the third-largest cannabis market in Canada, representing approximately 17% of Canadian cannabis retail sales1 in the country and approximately 22% of the Canadian population.
"We are excited to announce that we are one step closer to bringing Valens’ trusted and innovative products to the Quebec cannabis market. Our team has been working tirelessly to expand our domestic distribution network and Quebec would represent the fourth domestic market we have entered since the beginning of fiscal 2021. We look forward to updating our shareholders on our progress as we continue to work toward increasing our presence here at home in Canada," says Tyler Robson, CEO, and Co-founder of the Valens Company.
Quebec is expected to be the seventh province added to Valens’ domestic distribution network consisting of six provinces and one territory, including Alberta, British Columbia, Manitoba, New Brunswick, Ontario, Saskatchewan and Yukon Territory. While receiving authorization to contract in Quebec does not guarantee entry into the provincial cannabis market, it fulfills a fundamental requirement in the process of achieving vendor status.