Valens GroWorks Announces Receipt of Dealer's Licence
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/18/17 -- Valens
GroWorks Corp. (CSE: VGW)(CSE: VGW.CN)(CNSX: VGW) (the "Company" or
"Valens") is pleased to announce Valens Agritech Ltd. ("VAL"), a
wholly owned subsidiary of the Company, has received a Dealer's
Licence pursuant to the provisions of the Controlled Drugs and
Substances Act and its Regulations and will now begin operations. The
issuance of the licence follows an extensive multi-year process that
included application, design, construction and security clearance of
Licensed activities will occur in VAL's 17,000 square foot production
facility located on two acres in Kelowna, British Columbia. VAL will
be able to conduct research and possess, produce and package cannabis
and cannabis derivatives. It can also undertake research and begin
development of products for future market opportunities.
"Pursuing and achieving this Dealers Licence reinforces our strong
commitment to the science and opportunities presented by this amazing
plant," said Tyler Robson, CEO of Valens GroWorks. Dr. Rob O'Brien,
President and Chief Science Officer of Valens Agritech added "This is
a critical milestone for Valens as it enables us to optimize our
process for growing the highest quality cannabis plant material and
converting this to oils and other derivatives."
About Valens GroWorks Corp.
Valens GroWorks Corp is a CSE-listed company with an aggressive
acquisition strategy in progress, financing the proposed buildout of
late-stage LP applicant Royal Green Acres Manufacturing, the
expansion of a third party's fully licensed operations in Arizona, as
well as providing management, consulting, testing and support
services to domestic and international licensees.
The Company has two wholly-owned subsidiaries based in the Okanagan
Valley of British Columbia: 1) Valens Agritech Ltd. ("VAL") which now
holds a Controlled Drugs and Substances Dealers Licence, and 2) Supra
THC Services Inc. ("Supra"), a Health Canada Dealers-Licensed
cannabis testing lab with an established scientific team supporting
its operations, positioning to provide sector-leading analytical and
proprietary services to Licensed Producers and ACMPR patients.
On behalf of the Board of Directors,
VALENS GROWORKS CORP.
Robert van Santen, Chief Financial Officer
Notice regarding Forward Looking Statements
This news release contains forward-looking statements. Often, but not
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which may cause the actual results, performance or achievements of
the Company or its subsidiaries to be materially different from any
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the forward-looking statements. Examples of such statements include
statements regarding the use of proceeds from a proposed funding.
Such forward-looking statements are based on a number of assumptions
which may prove to be incorrect, including, but not limited to: the
ability to obtain any necessary financing; the economy generally;
competition; regulation and anticipated and unanticipated costs and
delays. The forward-looking statements included in this news release
are made as of the date of this news release and the Company does not
undertake an obligation to publicly update such forward-looking
statements to reflect new information, subsequent events or otherwise
unless required by applicable securities legislation. Neither the
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that term is defined in the policies of the Canadian Securities
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