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BRIEF-The Valens Company Enters Us Market With Agreement To Acquire Leading Cbd Company, Green Roads

Published 2021-04-27, 08:28 a/m
Updated 2021-04-27, 08:30 a/m
© Reuters.

April 27 (Reuters) - Valens Company Inc. VLNS.TO :

* THE VALENS COMPANY ENTERS US MARKET WITH AGREEMENT TO ACQUIRE LEADING CBD COMPANY, GREEN ROADS

* VALENS COMPANY - DEAL FOR CLOSING CONSIDERATION OF US$40 MILLION

* VALENS COMPANY INC. - GREEN ROADS ACQUISITION IS EXPECTED TO BE ACCRETIVE TO COMPANY IN 2021

* VALENS COMPANY INC. - IF ALL MILESTONES ARE MET IN 2022, TRANSACTION REPRESENTS ABOUT 4.5X FISCAL 2022 EBITDA

* VALENS COMPANY - ON PRO FORMA BASIS, COMBINATION OF VALENS AND GREEN ROADS RESULTS IN BUSINESS WHICH GENERATED TOTAL REVENUE OF C$111.6M IN 2020

* VALENS - PURCHASE PRICE PAYABLE ON CLOSING IS US$40.0 MILLION, INCLUDING ISSUANCE OF ABOUT US$25.4 MILLION IN COMMON SHARES OF CO & UP TO US$14.6 MILLION IN CASH

* VALENS COMPANY - ENTERED DEFINITIVE AGREEMENT TO ACQUIRE ALL OF ISSUED & OUTSTANDING SHARES OF GREEN ROADS & ITS MAJORITY OWNED MANUFACTURING UNIT

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