KELOWNA, BC, Sept. 16, 2019 /PRNewswire/ - 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.
SOURCE Valens GroWorks Corp.