diff --git a/index.js b/index.js
index b236de3..8c80a2b 100644
--- a/index.js
+++ b/index.js
@@ -8,7 +8,7 @@ const { urlToRequest } = require('loader-utils');
 const ICSSUtils = require('icss-utils');
 
 const matchImports = /^(.+?|\([\s\S]+?\))\s+from\s+("[^"]*"|'[^']*'|[\w-]+)$/;
-const matchValueDefinition = /(?:\s+|^)([\w-]+)(:?\s+)(.+?)(\s*)$/g;
+const matchValueDefinition = /(?:\s+|^)([\w-]+)(:?\s+)(.+?)(\s*)$/;
 const matchImport = /^([\w-]+)(?:\s+as\s+([\w-]+))?/;
 const matchPath = /"[^"]*"|'[^']*'/;
 
@@ -38,22 +38,20 @@ const replaceValueSymbols = (valueString, replacements) => {
 };
 
 const getDefinition = (atRule, existingDefinitions, requiredDefinitions) => {
-  let matches;
-  const definition = {};
+  const matches = matchValueDefinition.exec(atRule.params);
+  if (!matches) {
+    return null;
+  }
 
-  // eslint-disable-next-line no-cond-assign
-  while (matches = matchValueDefinition.exec(atRule.params)) {
-    const [/* match */, requiredName, middle, value, end] = matches;
-    // Add to the definitions, knowing that values can refer to each other
-    definition[requiredName] = replaceValueSymbols(value, existingDefinitions);
+  const [/* match */, name, middle, value, end] = matches;
+  const valueWithReplacements = replaceValueSymbols(value, existingDefinitions);
 
-    if (!requiredDefinitions) {
-      // eslint-disable-next-line no-param-reassign
-      atRule.params = requiredName + middle + definition[requiredName] + end;
-    }
+  if (!requiredDefinitions) {
+    // eslint-disable-next-line no-param-reassign
+    atRule.params = name + middle + valueWithReplacements + end;
   }
 
-  return definition;
+  return { [name]: valueWithReplacements };
 };
 
 const getImports = (aliases) => {
@@ -117,6 +115,9 @@ const walk = async (requiredDefinitions, walkFile, root, result) => {
     }
 
     const newDefinitions = getDefinition(atRule, existingDefinitions, requiredDefinitions);
+    if (!newDefinitions) {
+      result.warn(`Invalid value definition: ${atRule.params}`);
+    }
     return Object.assign(existingDefinitions, newDefinitions);
   };
 
diff --git a/index.test.js b/index.test.js
index 74b5204..579766a 100644
--- a/index.test.js
+++ b/index.test.js
@@ -51,7 +51,7 @@ test('should remove exports if noEmitExports is true', async (t) => {
   await run(t, '@value red blue;', '', { noEmitExports: true });
 });
 
-test('gives an error when there is no semicolon between lines', async (t) => {
+test('gives a warning when there is no semicolon between lines', async (t) => {
   const input = '@value red blue\n@value green yellow';
   const processor = postcss([plugin]);
   const result = await processor.process(input, { from: undefined });
@@ -61,13 +61,23 @@ test('gives an error when there is no semicolon between lines', async (t) => {
   t.expect(warnings[0].text).toBe('Invalid value definition: red blue\n@value green yellow');
 });
 
+test('gives a warning when @value definition is invalid', async (t) => {
+  const input = '@value oops:;';
+  const processor = postcss([plugin]);
+  const result = await processor.process(input, { from: undefined });
+  const warnings = result.warnings();
+
+  t.expect(warnings.length).toBe(1);
+  t.expect(warnings[0].text).toBe('Invalid value definition: oops:');
+});
+
 test('gives an error when path to imported file is wrong', async (t) => {
   const input = '@value red from "./non-existent-file.css"';
   const processor = postcss([plugin]);
   await t.expect(processor.process(input, parserOpts)).rejects.toThrow("Can't resolve './non-existent-file.css'");
 });
 
-test('gives an error when @value statement is invalid', async (t) => {
+test('gives an error when @value import statement is invalid', async (t) => {
   const input = '@value , from "./colors.css"';
   const processor = postcss([plugin]);
   await t.expect(processor.process(input, parserOpts)).rejects.toThrow('@value statement "" is invalid!');
@@ -255,6 +265,16 @@ test('should allow transitive values within calc without spaces', async (t) => {
   );
 });
 
+test('should allow transitive values containing spaces, like CSS relative colors', async (t) => {
+  await run(
+    t,
+    '@value mixedColor: color-mix(in hsl, hsl(200 50 80), coral 80%);\n'
+    + '@value mixedColorA90: hsl(from mixedColor h s l / 90%);',
+    '@value mixedColor: color-mix(in hsl, hsl(200 50 80), coral 80%);\n'
+    + '@value mixedColorA90: hsl(from color-mix(in hsl, hsl(200 50 80), coral 80%) h s l / 90%);',
+  );
+});
+
 test('should replace inside custom properties', async (t) => {
   await run(
     t,
@@ -300,10 +320,10 @@ test('should allow custom-property-style names', async (t) => {
 test('should allow all colour types', async (t) => {
   await run(
     t,
-    '@value named: red; @value hex3char #0f0; @value hex6char #00ff00; @value rgba rgba(34, 12, 64, 0.3); @value hsla hsla(220, 13.0%, 18.0%, 1);\n'
-    + '.foo { color: named; background-color: hex3char; border-top-color: hex6char; border-bottom-color: rgba; outline-color: hsla; }',
-    '@value named: red; @value hex3char #0f0; @value hex6char #00ff00; @value rgba rgba(34, 12, 64, 0.3); @value hsla hsla(220, 13.0%, 18.0%, 1);\n'
-    + '.foo { color: red; background-color: #0f0; border-top-color: #00ff00; border-bottom-color: rgba(34, 12, 64, 0.3); outline-color: hsla(220, 13.0%, 18.0%, 1); }',
+    '@value named: red; @value hex3char #0f0; @value hex6char #00ff00; @value rgba rgba(34, 12, 64, 0.3); @value hsla hsla(220, 13.0%, 18.0%, 1); @value hsl hsl(264 100% 62% / 70%);\n'
+    + '.foo { color: named; background-color: hex3char; border-top-color: hex6char; border-bottom-color: rgba; outline-color: hsla; border-left-color: hsl; }',
+    '@value named: red; @value hex3char #0f0; @value hex6char #00ff00; @value rgba rgba(34, 12, 64, 0.3); @value hsla hsla(220, 13.0%, 18.0%, 1); @value hsl hsl(264 100% 62% / 70%);\n'
+    + '.foo { color: red; background-color: #0f0; border-top-color: #00ff00; border-bottom-color: rgba(34, 12, 64, 0.3); outline-color: hsla(220, 13.0%, 18.0%, 1); border-left-color: hsl(264 100% 62% / 70%); }',
   );
 });
 
diff --git a/package.json b/package.json
index 8249921..74c4120 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "postcss-modules-values-replace",
-  "version": "4.2.0",
+  "version": "4.2.2",
   "description": "PostCSS plugin to work around CSS Modules values limitations",
   "keywords": [
     "postcss",