- Valens to produce a minimum of 2.2 million vape pens for BRNT Ltd. over an initial two-year term for the Canadian market valued at more than $50-million
- Largest publicly announced multi-year white label agreement for a branded finished product in the Canadian cannabis industry
- BRNT announces its rebrand to BRNT Group, a cannabis design house
EDMONTON, Oct. 31, 2019 /CNW/ - BRNT Group is proud to announce its partnership with Valens GroWorks Corp. (TSXV: VGW) (OTC: VGWCF) (the "Company" or "Valens"), to bring Made By vaporizers, a line of single-source cannabis extract vaporizers with artfully designed hardware, to a Canadian audience.
As part of the agreement, BRNT Group will lead the hardware design and development of the vaporizer as well as all marketing and sales efforts nationally. The extract formulations will be developed, crafted, and tested by Valens and made available exclusively through BRNT's introductory vaporizer line, Made By.
"Valens has demonstrated a commitment to cannabis extraction on a global scale that is driven by passion and quality. It was a natural fit for BRNT to collaborate with Valens to bring the Made By vaporizers brand to life with a partner that can mirror our globally recognized signature design aesthetic and brand development capabilities," said Simon Grigenas, CEO of BRNT Group. "BRNT and Valens are setting a new industry standard by creating meaningful brands and products through a focused, profitable approach, as opposed to the traditional vertical integration seen today."
The initial term of the agreement is two years, with two successive one-year renewal options, and relates to the production of a minimum of 2.2 million BRNT-branded vape pens, valued at over $50-million in gross revenue subject to unit price accepted by provincial distributors. The Made By vaporizers will utilize proprietary formulations provided by Valens.
"As Valens begins official production of next-generation products for Cannabis 2.0, we are excited to be collaborating with BRNT to bring to market a line of differentiated, high quality, concentrate vape products for Canadian consumers", said Tyler Robson, CEO of Valens GroWorks. "BRNT has shown impressive sales growth and market understanding through its ancillary offerings. In pairing their retail and product knowledge with Valens' processing and product development capabilities, we believe this provides a strong foundation to provide a product with strong consumer appeal."
In addition to the release of BRNT's vaporizer brand, BRNT is proud to announce the strategic development of the BRNT Group, a Canadian cannabis design house. BRNT Group is known for its rapid national growth, brand quality, industry experience and commitment to product excellence. As the parent company, BRNT Group will house BRNT Designs and Made By. BRNT Designs currently participates in the ancillary products sector providing premium, high-quality cannabis accessories that are currently available in over 170 stores across Canada with international expansion underway.
Made By vaporizers will be available in select markets starting in Q1 2020 and rolling out across Canada thereafter. With a 0.2ml format, Made By vaporizers feature an approachable price point and distinct visual identity. The Made By brand encourages highly artistic collaborations with local and international artists.
"The creation of the BRNT Group as our corporate entity allows us to further diversify and expand our brands into new categories," said Grigenas. "Our commitment to quality, collaboration, design, and innovation will be the building block for all of our sub-brands. With the success of BRNT Designs, we are excited to announce Made By, our cannabis extract vaporizers brand launching across Canada in 2020. Our focus on collaboration with creatives and artists as well as our partnership with Valens enables our customers to experience industry-leading cannabis derivative products while we stay true to our mission for creative brand design and hardware development."
ABOUT BRNT GROUP
BRNT Group is a Canadian cannabis design house known for its highly creative and authentic brands which have attracted a steadfast loyal following around the world. Within the BRNT Group portfolio is BRNT Designs, a luxe cannabis accessories brand that has reimagined consumption, storage, and preparation accessories for dried cannabis. BRNT Designs has blended aesthetics with functionality to create innovative cannabis accessories. The newest brand, Made By, leverages artist collaborations for its signature hardware design and its curated collection of cannabis extract formulations. Made By ready-to-go vaporizers are set to revolutionize the cannabis experience when they launch across Canada in 2020.
Following the expansion of BRNT Designs into international markets and the announcement of the creator-focused brand Made By, the BRNT Group continues to generate global buzz with its mission to de-stigmatize the cannabis experience by setting the benchmark for creativity through design and technology.
ABOUT VALENS GROW INC:
Valens GroWorks Corp. (TSXV:VGW) (OTCQX:VGWCF) is a multi-licensed, vertically-integrated cannabis company focused on being the partner of choice for leading Canadian and international cannabis brands by providing best-in-class, proprietary services including CO2, ethanol, hydrocarbon, solvent-less and terpene extraction, analytical testing, formulation and white label product development. Valens is the largest third-party extraction Company in Canada with an annual capacity of 425,000 kg of dried cannabis and hemp biomass at our purpose-built facility in Kelowna, British Columbia which is in the process of becoming European Union (EU) Good Manufacturing Practices (GMP) compliant. Additionally, our subsidiary Valens Labs is a Health Canada licensed ISO 17025 accredited cannabis testing lab providing sector-leading analytical services and has partnered with Thermo Fisher Scientific to develop a Centre of Excellence in Plant-Based Science. For more information, please visit http://valensgroworks.com. The Company's investor deck can be found specifically at http://valensgroworks.com/investors/
SOURCE BRNT Group
For further information: Lori Harito, BRNT Group, M: 416.523.9602, E: [email protected]