August 3, 2022 – The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) (the “Company”, “The Valens Company” or “Valens”), a leading manufacturer of cannabis products, today announced the voting results from its Annual General Meeting of Shareholders (the “Meeting”), held by way of live audio webcast on August 2, 2022.
Six of the director nominees that were put forward by the Company were elected by shareholders at the Meeting to hold office until the next annual meeting of shareholders or until their successors are elected or appointed. The results of the vote for the election of directors at the Meeting are set out as follows:
| Nominee | Votes For | Percent | Votes Withheld | Percent |
| Guy Beaudin | 20,340,337 | 97.59% | 502,671 | 2.41% |
| Andrew Cockwell | 20,609,431 | 98.88% | 233,577 | 1.12% |
| Karin A. McCaskill | 20,007,288 | 95.99% | 835,720 | 4.01% |
| Ashley McGrath | 19,998,568 | 95.95% | 844,440 | 4.05% |
| Tyler Robson | 20,158,064 | 96.71% | 684,943 | 3.29% |
| Drew Wolff | 20,532,986 | 98.51% | 310,022 | 1.49% |
KPMG LLP was also reappointed by shareholders at the Meeting.
Although extensively vetted by the Nominating and Governance Committee of the Company and initially confirming her ability and interest to stand as a director nominee for election at the Meeting as disclosed in the Management Information Circular dated July 5, 2022, immediately prior to the commencement of the Meeting, Aïda Moudachirou-Rébois advised the Company that due to unanticipated circumstances unrelated to the Company, she is precluded from serving and accordingly had to withdraw her consent. She was, therefore, not eligible to stand for election to the Board of Directors of the Company (the “Board”).
This Company continues its commitment to governance best practices, including transparency and accountability. The Company will continue to identify and attract additional qualified diverse director candidates to further strengthen the board in key areas, including diversity, CPG marketing and branding and capital markets.
Full details of the foregoing and results of the Meeting are contained in the Report of Voting Results for the Meeting which is filed under Valens’ profile on SEDAR at www.sedar.com.
At Valens, it’s Personal.
About The Valens Company
The Valens Company is a global leader in the end-to-end development and manufacturing of innovative, cannabinoid-based products. The Valens Company is 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 product development and custom manufacturing. 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. The Valens Company currently offers a wide range of product formats, including tinctures, two-piece caps, soft gels, oral sprays and vape pens as well as beverages, concentrates, topicals, edibles, injectables, natural health products and has a strong pipeline of next-generation products in development for future release. Finally, The Valens Company’s wholly-owned 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 https://thevalenscompany.com.
