The announce comes after their recent agreement with Canadian-based The Valens Company (TSX: VLNS) was released to market over the past month.
The $540,000 order is of ‘white-labelled cannabis products in various formulations’ which will be manufactured and produced at Epsilon’s Southport Facility in Queensland. Products will be sold in both Australian and New Zealand.
Two pallets of products are expected to be delivered within the week, which will likely be distributed quite quickly due to Cannvalate’s ‘significant local market presence’, as Jeff Fallows, President of The Valens Company puts it.
Through Cannvalate’s significant local market presence and leading distribution platform, and with Epsilon’s manufacturing capability, Valens is well placed with strategic access to a market we see through recent trends being poised for dramatic growth
Medical cannabis in Australia continues to break records every month, with approvals for new prescriptions reaching all time highs throughout 2021. The market is clearly making conversations as some local councils are even considering getting in on the action.
Epsilon and Valens expect to see further orders of a similar or greater value to continue to be received, with talks of exporting to European markets in the works as well.