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the art of

scienceEXTRACTION WITH PURPOSE OUR GUIDING PRINCIPLES

We believe in creating SET THE GOLD STANDARD We expect the best from our products, ourselves products for those who and those we surround ourselves with. Our standards and commitment drive us to consistently deliver the highest quality and set need them. We do things the gold standard. the right way without ever CREATE WITH PURPOSE

We relentlessly pursue the creation of products cutting corners. Whether with purpose. Products that are designed to meet the needs of a broad range of consumers. it’s medical or We believe in the art of science; at the intersection of creativity and science, purposeful recreational, local or innovation is born.

international, we’re OWN IT We are committed to deliver what we promise to pursuing meaningful our clients and our consumers. We take on the responsibility to create safe, innovative, quality extraction, formulation, products designed with purpose. product development and WE ARE IN IT TOGETHER Our greatest asset is our team. Together, we are testing to bring safe, stronger than the sum of our parts. We believe in deep collaboration. It allows us to innovate and purposeful cannabis to solve problems in ways that others cannot. the people. WE ARE CANNABIS AMBASSADORS We are excited about the future. Obstacles for others are opportunities for Valens as we drive to build a global cannabis industry. THE VALENS COMPANY ADVANTAGE EXTRACTION, PRODUCT DEVELOPMENT & ANALYTICS

LEADERSHIP COMPANY HIGHLIGHTS

The Valens Company has built a leading, cutting edge The largest custom manufacturer of cannabis end-to-end cannabis process. Our diverse product products in Canada servicing both recreational development platform supports one of the largest and medical markets. cannabis custom manufacturing outputs in North Proven full commercialization of SKUs in under America. 45 business days. Dedicated account management teams across STABILITY AND GROWTH Eastern and Western Canada. Industry leading quality program to ensure Since its inception, The Valens Company has been product safety, consistency and compliance. laser-focused on its core expertise: innovation and product development. This has led to year-over-year Over 210 employees situated in facilities across growth and a stable track record. B.C. and Ontario.

EXPERTISE

Having the country's largest capacity across six A W A R D E D T O P E X T R A C T I O N C O M P A N Y different core technologies allows us to offer all major cannabinoid derivatives.

YEAR IN REVIEW

85 new SKUs launched 80,000 kgs of biomass processed 72,000 sq. ft. of additional processing space coming online Largest third-party vape manufacturer in Canada World-class, ISO accredited analytical testing Human administration research licence secured First international shipments realized OUR SERVICES CANNABIS 2.0 CUSTOM MANUFACTURING

EXTRACTION, REFINEMENT, NEW PRODUCT DEVELOPMENT & DISTILLATION AND ISOLATION CUSTOM MANUFACTURING

No further work required. Using our expertise we Leverage our capabilities to develop your products. extract flower into a variety of premium, We fully process and package your ready-for-market ready-for-market cannabinoids. From full spectrum cannabinoid-based products. The Valens Company to isolate, we have it covered. Our process removes can help shape your product lines from vaping the unwanted lipid, and chlorophyll compounds products, tinctures and capsules to complex that can hinder quality and experience. concentrates, beverages and more.

TESTING & ANALYTICS SALES & DISTRIBUTION SUPPORT

Together with Thermo Fisher Scientific, we have End-to-end means after production execution we developed a “Centre of Excellence in Plant-Based support our partners' product launches by Science”. The first and only one of its kind in Canada, conducting provincial listings, product onboarding our leading-edge research and testing facility offers and coordinating drop shipments direct to provinces. third-party testing services as required by Health Canada and conducts academic and commercial research projects for our clients.

Our proven proprietary processes and technologies allow us to support producers around the world to bring the best out of their cultivars, translating the plant into purified extract. OUR CORE TECHNOLOGIES

SUPER/SUB-CRITICAL CO2 EXTRACTION HYDROCARBON EXTRACTION

This tunable, highly selective method produces a We extract full spectrum and live resins from pure, high quality full spectrum . Modifying fresh-frozen biomass suited for high potency and temperature and pressure allows us to remove highly nuanced concentrates. Hydrocarbon produces cannabinoids and terpenes with very little flavourful, artisanal extracts for recreational products. denaturing or damage to the compounds collected. shatter, wax, live resin, , crumble vaporizers vaporizers full spectrum topicals

CO2 TERPENE EXTRACTION ETHANOL EXTRACTION Terpenes are collected by using the highly selective Massive capacity paired with extraction efficiency CO2 method which removes and retains the fraction makes this process best suited for distillates and of volatile organic compounds. This fraction can be isolates. Our continuous flow process has been reintroduced into vaporizer and concentrate perfected to filter and colour remediate the extracted formulations to increase flavour to further reflect the compounds to produce a highly refined resin. starting cultivar.

soft gels topicals broad spectrum oils SoRSETM BY VALENS

This emulsion technology allows us to infuse foods, SOLVENT-LESS EXTRACTION liquids and topicals with cannabinoids without the taste or smell of cannabis, offering consumers a more Mechanical separation techniques are used to versatile and predictable experience. By encapsulating extract and capture trichomes for those licensed the active compounds, the emulsion solution turns producers looking for a more natural way to produce cannabis oils into stable water-compatible products concentrates. Dry-sifting and bubble hash extraction with a rapid and consistent onset and offset to are some techniques used to achieve a solvent-less maximize the experience. extract. hash live resin beverages edibles topicals OUR LAB A CENTRE OF EXCELLENCE IN PLANT-BASED SCIENCE

QUALITY CONTROL AT OUR CORE ANALYTICAL SERVICES

Together with Thermo Fisher Scientific, Valens Labs Valens Labs’ testing and analysis goes beyond has developed a “Centre of Excellence in national requirements to achieve supreme sampling. Plant-Based Science”, the only one of its kind in Our lab has advanced capabilities to test for: Canada. • Heavy metals • Residual Solvents Valens Labs offers third-party testing services as • Microbials • Cannabinoid potency required by Health Canada for every batch. We also • Pesticides • Terpenes actively conduct academic and commercial • Mycotoxins • Moisture content research projects for ourselves and our clients. Reach out to Valens Labs for a full list of testing The company has a Health Canada analytical licence services and pricing: 1 (888) 470 2469 | for cannabis testing and analysis, and holds ISO [email protected] 17025 accreditation (the global gold standard for laboratory testing services). BULK EXTRACTS & BLENDED SOLUTIONS > BULK EXTRACTS & BLENDED SOLUTIONS

CO2 AND ETHANOL EXTRACT DERIVATIVES

FULL SPECTRUM OIL CO2 & ETHANOL DISTILLATE Full cannabis extract which most closely resembles the Distillates are high potency flower input. Ideal for vaporizers, extracts that are purified to tinctures and soft gels where remove flavor and smell. the flavour and a wholesome Most commonly used in experience matter most. edibles, topicals, etc. where cannabis flavour and aroma is unwanted. Distillates make a great base for vaporizers where terpenes are used to BROAD SPECTRUM OIL customize the flavor of the

Full flavoured extract with distillate. modulated THC percentages. Broad spectrum resins are used where minimal-THC formulations are considered. ISOLATE Most ideal for vaporizers, Isolates are free from tinctures and soft gels. cannabis taste and odour, and are used in single molecule formulations WINTERIZED OIL where THC levels are near & RESIN zero in the end product. Medical grade tinctures, Produced in low volume and softgels, and topicals are the refined to remove compounds most commonly formulated like , and chlorophyll. products. Resin still has a full cannabis flavour profile, making it best suited for products where cannabis flavour through mass terpenes is paramount.

BULK EXTRACTS AND BLENDED SOLUTIONS CANNABIS MASS CONSUMER PRODUCTS > Quality control across the vape ecosystem: The Valens Company partners with a broad range of leading and quality validated hardware partners allowing us to offer a wide range of options both in universal cartridges and disposable formats, VAPES maintaining the highest quality standards, control and security of supply. DISTILLATE

An end product with no cannabis taste or smell, with a customizable and repeatable experience. Available formulas: THC, CBD and THC:CBD “balanced” formulas.

DISTILLATE + CANNABIS TERPENES

Ethanol extracted, heavily-refined cannabis oil that has been separated into a cannabinoid-dominant fraction. Any formula of cannabis derived terpenes can be reintroduced post distillation. VAPORIZER HARDWARE DISTILLATE + BOTANICAL TERPENES Valens offers a wide range of Non-cannabis derived botanical terpenes are hardware options with a number of reintroduced to ethanol extracted distillate. qualified vape hardware partners, including both universal cartridge CO2 FULL SPECTRUM and disposable formats.

Supercritical CO2 extracted and refined cannabis oil, processed to remove impurities and lipids, and maintain cannabinoids, flavonoids and terpenes.

HYDROCARBON CURED

Extracted from dried and cured cannabis, this oil is hydrocarbon-extracted and refined. Cannabinoids and terpenes are preserved at very high levels.

LIVE RESIN PEN

Extracted from fresh-frozen cannabis, this oil is hydrocarbon extracted and refined. Cannabinoids and terpenes are preserved at very high levels.

CANNABIS MASS CONSUMER PRODUCTS Full range of Extracts customized with the end user in mind: from full spectrum to isolate oils and water-based drops, our extracts are OIL EXTRACTS uniquely tailored to meet our customers needs while maintaining FULL SPECTRUM OILS a range of beneficial cannabinoids Supercritical CO2 extracted and refined cannabis oil, preserving the full cannabis profile of the biomass and terpenes. including cannibinoids, flavinoids and terpenes, while unwanted impurities are removed.

BROAD SPECTRUM OILS

Our broad spectrum formulations are similar to full spectrum oils, but have mininal THC potencies. These are typically CBD dominant formulations made for tinctures, soft gels and edibles.

DISTILLATE OILS

Distillates are used for products where cannabis taste and odour are undesired and an accurate, repeatable experience is wanted. Available formulas: THC, CBD and THC:CBD “balanced” formulas.

HIGH CBD ISOLATE OILS

Isolated cannabinoid formulations with single active molecule formulations. They are typically used in CBD formulations with nearly zero THC.

WATER-BASED DROPS

Manufactured using SoRSETM by Valens Technology to produce a water-compatible user-controlled dosing platform. The water-based formulation can be added to beverages, edibles and into a large variety of cooking occasions.

CANNABIS MASS CONSUMER PRODUCTS SoRSE™ by Valens is a proprietary emulsification technology that allows cannabis derived extracts to become water-compatible and free from all cannabis aroma or aftertaste. SoRSE™ by Valens BEVERAGES delivers a clearly defined and repeatable onset and offset timing, creating a more predictable MADE WITH and reliable consumer experience.

BY TECHNOLOGY

The Valens Company offers a range of still and carbonated beverages in PET and can format. We work with beverage mixologists to create differentiated and unique portfolios of products for our customers.

• CARBONATED THC DRINKS

• CARBONATED CBD DRINKS

• NON-CARBONATED THC DRINKS

• NON-CARBONATED CBD DRINKS

• DRINK DROPS

We also offer a water-based formulation as a concentrate to be added (in drop form) by the consumer to beverages, edibles and into a large variety of cooking occasions.

CANNABIS MASS CONSUMER PRODUCTS The latest methodologies and technologies are used to infuse our proprietary high quality cannabis extracts into precision dosed gummies, chocolates, confectionary and baked goods. The Valens Company's EDIBLES edibles offer a broad range of custom flavours with no cannabis aroma or aftertaste, MADE WITH using SoRSETM by Valens Technology.

BY TECHNOLOGY

In collaboration with food developers and food experts in our and our customers' networks, The Valens Company is able to create proven formats like cannabis gummies as well as more innovative formats like energy balls.

Talk to us about your ideas or let us develop a full edible lineup for your brand.

• GUMMIES

• CHOCOLATES

• MINTS

• CANDIES

• BAKED GOODS

CANNABIS MASS CONSUMER PRODUCTS We are making extensive investments in our research and development efforts to develop consumer-trusted products for the health and wellness industry, infused with quality cannabinoids and an extensive range WELLNESS of other botanical ingredients.

MADE WITH

BY TECHNOLOGY

MOISTURIZER A premium, flower-derived CBD infused topical cream that nourishes and comforts the skin.

BODY RUB This one of a kind formula with menthol provides a gentle cooling sensation to stiff or sore areas of the body.

MASSAGE OIL A premium, flower-derived CBD infused massage oil designed to be applied to stiff or sore areas of the body.

BATH BOMBS Infused with CBD and aromatic essential oils, and customized for potency and scent.

SOFT GELS These gelatin-based shells encapsulate premium oil extracts for precise dosage. Vegan options available.

Quality topicals go beyond the Aloe Vera Lavender Oil cannabinoids to deliver a complete, quality consumer experience. We have Shea Butter Menthol Sunflower done extensive work incorporating consumer-trusted ingredients to Arnica FLOWER Green Tea Oil enhance our base formulations.

CANNABIS MASS CONSUMER PRODUCTS CANNABIS SPECIALTY PRODUCTS > CANNABIS SPECIALTY PRODUCTS ADVANCED CANNABINOID SOLUTIONS

Hydrocarbon Extracted Concentrates

We extract full spectrum resins and live resin from fresh-frozen material ideally suited for high potency and highly nuanced concentrates. Hydrocarbon allows for flavourful artisanal extractions.

WAX / SUGAR WAX DAB TABLETS

A high potency, homogeneous A crumble like consistency is concentrate produced from the starting base for the fresh-frozen or cured biomass, format. Direct compression is with a wax consistency. This used to produce a hard product is best suited to be pressed tablet to be used in used in a dab rig device or a a dab rig device or a portable portable vaporizer. vaporizer.

CRUMBLE LIVE RESIN

A high potency concentrate A fresh-frozen input is used with an airy and crumbly to produce a high potency consistency. Crumble is best extract that looks like caviar. suited for use in a dab rig It has the active THC device or portable vaporizer component that has and is derived from fresh crystalized forming sugar frozen or cured biomass. alongside the terpene "sauce" component.

BADDER DIAMONDS

Resembling cake batter, this A fresh-frozen input is used high potency, homogeneous to produce a high potency concentrate is produced from extract that looks like a fresh-frozen or cured biomass, diamond. It has the active Badder is best suited to be component that has used in a dab rig device or a crystalized forming portable vaporizer. diamond-like structures alongside the terpene "sauce" component.

CANNABIS SPECIALTY PRODUCTS CANNABIS SPECIALTY PRODUCTS ADVANCED CANNABINOID SOLUTIONS

Dry-Sifted

HASH PRESSED HASH

Trichomes are isolated using a This dry-sift starting mechanical sifting process material has gone through and further refined to remove further processing to melt unwanted compounds that the trichomes together, could hinder the experience. resulting in a homogeneous This product is best suited to hash. be used in a dab rig device or a portable vaporizer.

QUEBEC <30% HASH PRESSED ROSIN

Specifically developed to Isolated trichomes from adhere to Quebec cannabis mechanical separation are law, this hash is limited to a subjected to high pressure maximum 30% THC content. and heat to melt them into a homogeneous rosin extract.

Coming Soon

THCA CBDA CBG CBN ACIDIC & MINOR CANNABINOIDS

With the expected shift in consumer preferences to evolves, minor cannabinoid formulations are derivative cannabis product formats, The Valens expected to disrupt the market. The Valens Company Company is investing significantly in product is encouraged by the market potential of these new development initiatives incorporating next formulations and is taking an active role in the future generation cannabinoids. As the cannabis industry of cannabis innovation.

CANNABIS SPECIALTY PRODUCTS SPIRULINA

CONTACT US

1 (778) 755-0052 | [email protected] 230 Carion Road, Kelowna, BC V4V 2K5

Copyright © 2020 The Valens Company Inc.