KELOWNA, BC, Sept. 16, 2019 /CNW/ - Valens GroWorks
Corp. (TSXV: VGW) (OTC: VGWCF) (the "Company" or
"Valens"), a vertically integrated provider of industry
leading extraction products and services; including a diverse suite
of extraction methodologies, next generation cannabinoid delivery
formats and an ISO 17025 accredited analytical lab is pleased to
announce that it has entered into an agreement to supply cannabis
oil derivative products to Medical Cannabis by Shoppers, the online
medical cannabis ecommerce site of one of Canada's most trusted pharmacy retailers.
Valens will utilize their five different types of extraction
services including CO2, Ethanol, Hydrocarbon, Solvent-less, and
Terpene extraction as well as its IP and formulation services to
create a variety of innovate oil-based products for Shoppers'
medical platform. Under the agreement, Valens will immediately
begin production of gel caps and tinctures with further expansion
of product offerings to include vaporizer cartridges, topicals and
other desired products as permitted for sale by Health Canada
regulations.
"Valens is proud to be chosen as the first third party
extraction and product development company to supply cannabis oil
products to one of the most recognized pharmacy retailers in
Canada." said Tyler Robson, CEO of Valens. "Shoppers Drug Mart
is a highly respected, trusted brand that consistently delivers
premium products that patients can trust. Our industry
leading extraction, analytical testing and product formulation
capabilities are ideally positioned to deliver the high quality,
oil-based products and services expected from such a reputable
industry leader such as Shoppers. This new partnership will
advance our product development portfolio as we continue to enhance
our capabilities and increase our market presence."
About Valens GroWorks
Valens GroWorks Corp. (TSXV:VGW) (OTC:VGWCF) is a
multi-licensed, vertically-integrated cannabis company focused on
being the partner of choice for leading Canadian and international
cannabis brands by providing best-in-class, proprietary services
including CO2, ethanol, hydrocarbon, solvent-less and terpene
extraction, analytical testing, formulation and white label product
development. Valens is the largest third-party extraction
Company in Canada with an annual
capacity of 425,000 kg of dried cannabis and hemp biomass at our
purpose-built facility in Kelowna,
British Columbia which is in the process of becoming
European Union (EU) Good Manufacturing Practices (GMP)
compliant. Additionally, our subsidiary Valens Labs is a Health Canada licensed ISO
17025 accredited cannabis testing lab providing sector-leading
analytical services and has partnered with Thermo Fisher Scientific
to develop a Centre of Excellence in Plant-Based Science. For
more information, please visit http://valensgroworks.com. The
Company's investor deck can be found specifically at
http://valensgroworks.com/investors/
Notice regarding Forward Looking Statements
This news release contains certain "forward-looking statements"
within the meaning of such statements under applicable securities
law. Forward-looking statements are frequently characterized by
words such as "anticipates", "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed", "positioned" and other similar
words, or statements that certain events or conditions "may" or
"will" occur. These statements are only predictions. Various
assumptions were used in drawing the conclusions or making the
projections contained in the forward-looking statements throughout
this news release. Forward-looking statements are based on the
opinions and estimates of management at the date the statements are
made and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
The Corporation is under no obligation, and expressly disclaims any
intention or obligation, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable law.
The TSXV or other regulatory authority has not reviewed,
approved or disapproved the contents of this press release. We seek
Safe Harbour.
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SOURCE Valens GroWorks Corp.