Valens operates in the cannabis industry. Co. is focused on delivering a suite of extraction methodologies, next generation cannibinoid delivery formats and analytical testing. Co. has three reportable segments: cannabis operations, analytical testing, and corporate. The cannabis operations segment includes the extraction, postprocessing, and white label manufacturing under the standard processing and standard cultivation license issued by Health Canada. The analytical testing segment includes the provision of testing services for cannabis products under an analytical testing license provided by Health Canada. The corporate segment includes other support to all segments.