Ann: Epsilon Enters Exclusive Partnership with The Valens Company, page-12

I wouldn't expect it to show in the next quarterly, or really in the one after to be honest. I'm in agreement that it's no doubt a good thing that SOMETHING is finally happening with EPN, but it's this typical headline only announcement with no real substance that bothers me with this company.

The terms of the contract are that they company's need, to their best endeavours, have the supply and management/operational agreements completed by 30th November, so I wouldn't expect much to happen before then. Valens still needs to move their team over here. Marek raises a good question on what's happening with current facility staff?

Also, the way it reads is that Valens will reimburse/pay for the facility on a cost recovery basis; so EPN lays down the initial costs and recovers it later, which could be anything from a monthly to quarterly cost recovery... so it's probably going to take a while to see this reflected in our 4Cs. Valens also doesn't have an existing market in the areas noted, so I can't see them immediately going from 0 to 85% of capacity; more likely a steady build. While we could probably get away with something short term, it means that the facility can only contract 15% on a long term basis, as needs to keep the rest of the capacity available for Valens.

Great to see something happening, but still a long road to recovery and where the company has been in the past.