Ann: Trading Halt, page-4

From Valens:

Australia Market Update

The Company also announced it has secured AUS$540,000 of initial orders for GMP product from its Australian distribution partner, Cannvalate PTY Ltd (“Cannvalate”). This follows the Company’s recent announcement that it had secured access to GMP Manufacturing in Australia through an exclusive partnership with Epsilon Healthcare, furthering its international expansion to GMP markets in Latin America, Europe, UK and the Asia-Pacific regions.

Jeff Fallows, President of The Valens Company, said, “We are excited to report our first GMP production through the Southport facility, marking our further expansion into the Australian market. The order represents Valens taking advantage of Epsilon’s large scale GMP manufacturing capability, with the capacity and means to provide further accelerated access to Europe through their TGA and EU GMP capabilities. Through Cannvalate’s significant local market presence and leading distribution platform, Valens is well placed with strategic access to a market we see through recent trends being poised for dramatic growth.”

Valens expects to continue to receive purchase orders of a similar or greater value under this arrangement on an ongoing basis, which is representative of the global shift to GMP and EU GMP production standards that the Company is now able to deliver through its partnership with Epsilon Healthcare.

If this is the reason for the trading halt lets hope EPN releases better detail on when it supplies and when it can expect a repeat order, given it is announced for Australia and NZ.