![]() ![]() The former owners and founders of Pommies, Nick and Lindsay Sutcliffe (collectively, the " Vendors"), will be joining Valens following the Acquisition, bringing with them more than 20 combined years of experience in the beverage alcohol industry, having founded Pommies in 2010 as one of the first alcoholic cider beverages in the market and grown it to a highly successful, multi-million dollar business. In December 2018, Pommies submitted its Health Canada application for a micro-processing licence. The facility is equipped with industrial scale fermentation and mixing tanks, canning and bottling lines, labeling equipment, and a commercial shipping and receiving bay. facility currently used to manufacture the company's existing line of Pommies-branded cider. Pommies is a leading hard cider manufacturer in the Greater Toronto Area and operates a 32,000 sq. ![]() The Acquisition and all planned capital expenditures are fully funded with cash on hand and current and projected cash flow from operations. (d/b/a Pommies Cider Co.) (" Pommies") in a cash and stock deal (the " Acquisition"). POMMIE DEFINITION ISO(TSXV: VGW) (OTCQX: VGWCF) (the " Company" or " Valens"), a vertically integrated provider of industry leading extraction products and services, including a diverse suite of extraction methodologies, next generation cannabinoid delivery formats and an ISO 17025 accredited analytical lab, is pleased to announce that it has acquired all of the issued and outstanding shares of Southern Cliff Brands Inc. Valens believes that cannabis-infused beverages will be one of the most profitable product lines based on overwhelming interest from existing customers and other ongoing discussions.Valens adds beverage industry veterans Nick and Lindsay Sutcliffe to be key contributors to the Company's beverage strategy.Acquisition also expands Valens' extraction capabilities into Eastern Canada and adds additional white label product offerings to address the continued acceleration of demand for the Company's products and services.Acquisition accelerates Valens' commercial-scale entry into the high-growth beverages and edibles market in Canada, a C$2.0 billion+ market according to Deloitte 1. POMMIE DEFINITION LICENSE
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