Valens GroWorks Expands Cannabis Oil Production Capacity 600%
Valens GroWorks Corp. (CSE: VGW) (the “Company” or “Valens”), a multi-licensed, vertically integrated provider of cannabis products, is pleased to announce a substantial increase to its processing capacity of supercritical CO2-extracted cannabis oil at wholly-owned subsidiary Valens AgriTech in Kelowna.
Valens AgriTech has taken delivery of two Vitalis Q-90 CO2 extraction machines that have been added to the previously installed production capacity. The addition of these machines raises the amount of cannabis that can be processed in a month by 600% from 1000 kg to 6000 kg. “This is an important step for Valens to address the increasing demand for cannabis oil in the Canadian and International markets” said Tyler Robson, CEO of Valens GroWorks.
According to Health Canada, the amount of cannabis oil sold during the third quarter of this fiscal year was 125% higher than the same quarter in the previous fiscal year. Solvent selection is very important for applications in the food, nutraceutical, and pharmaceutical industries, where health and safety legislation place severe restrictions on the types of solvents that can be used. Supercritical CO2 extracts are pure and require minimal post-processing.
Carbon dioxide is recognized as safe by the FDA and EFSA, making CO2 ideal for processing food and medical extracts.
About Valens GroWorks
Valens GroWorks is a multi-licensed, vertically integrated provider of Canadian cannabis products with two whollyowned subsidiaries located in Kelowna, BC. Subsidiary Valens Agritech has initiated cannabis production, processing and sales under a Health Canada Dealers Licence, which includes a supply agreement with Canopy Growth Corporation (TSX:WEED) under their extensive CraftGrow distribution network. Subsidiary Supra THC Services is a Health Canada licensed cannabis testing lab providing sector-leading analytical services and has partnered to develop a Centre of Excellence in Plant Based Medicine Analytics. For more information, please visit https://valensgroworks.com, http://www.valensagritech.com and http://www.suprathc.ca.
On behalf of the Board of Directors,
VALENS GROWORKS CORP.
(signed) “Tyler Robson”
Chief Executive Officer
For further information, please contact:
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 CSE or other regulatory authority has not reviewed, approved or disapproved the contents of this press release. We seek Safe Harbour.