Epsilon Healthcare Limited provided an update on its exclusive partnership with The Valens Company. As announced on 3 March 2022, Epsilon and Valens commenced their exclusive partnership. During the period since, Valens and Epsilon collaborated on the activities of Epsilon's Southport Facility and both have been pleased with those outcomes ­ including a significant ramp up of production activities which saw material production volumes and revenues through the Facility.

The Company and Valens have continued to operate under the terms of the relevant agreements as announced, and have agreed in-principle to an informal extension of the existing agreements through to at least 1 August 2022. The Company continues to have had strong demand through to 30 June 2022 and beyond with demand being sourced from both Valens and non-Valens sales pipelines. On an annualised run rate basis, the Company has seen revenues exceeding $5 million from medicinal cannabis manufacturing activities alone.