The Valens Company Continues to Expand Canadian Recreational Market Share in April

Published: May 26, 2022

The Valens Company Continues to Expand Canadian Recreational Market Share in April

The Valens Company Inc., a leading manufacturer of branded cannabis products, is pleased to provide an update on its recent recreational market share in Canada.

Tyler Robson, Chief Executive Officer of The Valens Company, said, “We continue to expand our recreational market share as we develop strength within our brand portfolio through products that continue to resonate with consumers. Furthermore, Valens was the fastest growing company among the top ten licensed producers by market share, seeing retail sales growth of 53.8% from November 2021 to April 2022 based on Hifyre data in OntarioAlbertaBritish Columbia, and Saskatchewan. Importantly, we were able to grow our market share across all product categories and overall market share increased by 90 basis points from 2.5% in November 2021 to 3.4% in April 2022. We continue to grow faster than the average of our top ten competitors who collectively saw their market share decline over the same period. In short, we are on track to hit our 2022 objectives to become a top five player in vapes, edibles and beverages and a top ten player in flower products by year end.”

Valens Market Share Summary

November

2021

April

2022

Retail Sales
Growth1

Major Markets2

2.5%

3.4%

53.8%

Cannabis 1.0 Market Share Update2

  • Versus BC God Bud #1 best-selling SKU for four consecutive months in 2022 among all product categories in OntarioAlbertaBritish Columbia, and Saskatchewan
  • Launched Contraband infused pre-roll, Big Willie and Versus Super Lemon Haze Jar of J’s in May 2022, which further positions Valens for potential market share growth in the pre-roll category in Q3

Rank

Objective

2022

April

2022

Retail Sales
Growth1

Flower

#8

Top 10

3.2%

69.7%

Pre-Roll

#13

Top 10

2.0%

61.8%

Cannabis 1.0

3.3%

67.8%

Cannabis 2.0 Market Share Update2

  • Versus Seltzers are now among the fastest growing cannabis-infused beverages with 505% provincial sales growth and 2.86% combined market share in OntarioAlbertaBritish Columbia, and Saskatchewan since launching in January 2022
  • Launched two new flavours of Versus Seltzers, Mango and Ruby Grapefruit in May 2022 arriving just in time for the summer season
  • Launched 4 of the most affordable vape SKUs in the market under our Versus brand (Peach Dream, Dank Berry, Mad Mango, and Loud Lemon) which further positions Valens for potential market share growth in the vape category in Q3

Rank

Objective

2022

April

2022

Retail Sales
Growth1

Edibles

#9

Top 5

3.2%

47.8%

Vape

#7

Top 5

3.8%

28.6%

Beverage

#4

Top 5

10.8%

41.9%

Cannabis 2.0

4.2%

34.5%

Sources:

Retail sales growth from November 2021 to April 2022, as per Hifyre data as of May 10th

Hifyre data as of May 10th in Ontario, Alberta, British Columbia, and Saskatchewan, not including any B2B LP Sales


About The Valens Company
The Valens Company is a leading manufacturer of cannabis products with a mission to bring the benefits of cannabis to the world. The Company provides proprietary cannabis processing services, in addition to best-in-class product development, manufacturing, and commercialization of cannabis consumer packaged goods. The Valens Company’s high-quality products are formulated for the medical, health and wellness, and recreational consumer segments, and are offered across all cannabis product categories with a focus on quality and innovation. Discover more on The Valens Company at http://www.thevalenscompany.com.