Valens Receives Updated Health Canada License – Permits B2B Sales
Kelowna, B.C., November 12th, 2018 – Valens GroWorks Corp. (CSE: VGW) (the “Company” or “Valens”), a Health Canada licensed, vertically integrated provider of cannabis products and services focused on various proprietary extraction methodologies, distillation, cannabinoid isolation and purification, as well as associated quality testing is pleased to announce that it has received its updated standard processing and standard cultivation license on November 9th, 2018. The updated licensing has been issued in accordance with Health Canada’s Cannabis Act and Cannabis Regulations, which had previously been issued under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”).
Effective immediately, the Company’s wholly owned subsidiary, Valens Agritech Ltd, is authorized to sell cannabis and cannabis products in accordance with subsection 11(5) and 17(5) of the Cannabis Regulations. This updated license from Health Canada allows Valens to engage in business to business (B2B) sales with its strategic partners and other qualified license holders under the Cannabis Act and Cannabis Regulations, including executing on extraction agreements already in place.s
“This is an extremely important milestone for the Company as we continue to strategically execute on our business plan to be the leading extraction service provider in the industry” said Tyler Robson, CEO at Valens “Having this new license in hand, combined with our proprietary extraction capabilities will allow us to create further value for our shareholders and strategic business partners.”
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