Valens GroWorks Corp. (CSE:VGW) (the “Company” or “Valens”), a multi-licenced, vertically integrated provider of cannabis products, is pleased to announce a follow up non-brokered private placement of up to 500,000 units (the “Units”) at a price of $1.00 per Unit for gross proceeds of up to $500,000 (the “Offering”).
The net proceeds of the Offering will be used for additional growing and oil extraction capacity at existing facilities, and general corporate purposes. The Company anticipates significant insider and contractor participation in the Offering.
Each Unit will consist of one common share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $1.50 for a period of 12 months from the closing of the Offering, subject to the acceleration provision described below. The Units will be made available by way of prospectus exemptions in Canada and in such other jurisdictions as the Company may agree where the Units can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.
The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the Canadian Securities Exchange (the “CSE”) has been equal to or greater than $2.00 for ten consecutive trading days after the hold period on the Common Shares has expired.
Closing of the Offering is subject to regulatory approval including that of the CSE. The Company may pay a finder’s fee on the non-insider portion of the Offering within the amount permitted by the policies of the CSE.
All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
About Valens GroWorks Corp.
Valens GroWorks Corp. is a CSE-listed biotechnology company with an aggressive buildout strategy in progress. The Company seeks to capture a broad spectrum of medical cannabis users, and adult recreational users once legalized, as well as clinical trial and R&D clients, in pursuit of its ambitious “plants to premium products” objectives. The Company also provides management, consulting, testing and support services to domestic and international licensees, as well as financial support to fully-licensed third-party operations.
The Company operates through two wholly-owned subsidiaries based in the Okanagan Valley of British Columbia: Valens Agritech Ltd. (“VAL”) holds a Health Canada Dealer’s License and is commencing cannabis production and further expansion, and Supra THC Services Inc. (“Supra”), a Health Canada licensed cannabis testing lab providing sector-leading analytical and proprietary services to Licensed Producers and ACMPR patients. Both subsidiaries are involved in a collaborative research partnership with British Columbia-based universities UBC Okanagan and Thompson Rivers to explore the vast range of bioproducts that can be made from cannabis plant materials. Supra, in collaboration with Thermo Fisher Scientific (Mississauga) Inc., is developing a “Centre of Excellence in Plant Based Medicine Analytics” at the Company’s 17,000 square foot facility located on two acres in Kelowna.
For more information, please visit http:/valensgroworks.com, http://www.valensagritech.com and http://www.suprathc.ca.
On behalf of the Board of Directors, VALENS GROWORKS CORP. (signed) “Rob van Santen” Chief Financial Officer
For further information, please contact: Greg Patchell Telephone: +1.250.860.8634
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.
Click here to connect with Valens GroWorks Corp. (CSE:VGW) for an Investor Presentation.

Source: www.stockwatch.com


Agreement propels development of safe and effective proprietary products and formulations for the emerging psychedelic industry

Optimi Health Corp. (CSE: OPTI) (“Optimi” or the “Company”), developers of a vertically integrated functional mushroom brand focused on the health and wellness sector, is pleased to announce that effective January 4, 2021, it entered into a lab services agreement with Numinus Wellness Inc. (“Numinus“). Recognized as an early leader in developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), Numinus is aiding Optimi’s mission to further the research and development of Canadian-grown psilocybin-producing mushrooms and related product formulations.

Keep reading... Show less

Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (“Nextleaf”, “OILS”, or the “Company”), the world’s most innovative cannabis processor, is pleased to provide shareholders with the following corporate update:

Nextleaf Comments on Financial Results from Q1 Financials

Keep reading... Show less

Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”) reported its second quarter results for the period ended December 31, 2020. A complete set of financial statements and Management’s Discussion & Analysis has been filed at www.sedar.com. All dollar figures are quoted in Canadian dollars.

The second quarter of FY21, saw continued momentum for the Company despite ongoing pandemic related challenges. Net revenue grew 8% to $745,748 from $689,276 versus the same quarter year ago. The Company also saw significant improvement on its bottom line, reducing its net loss by 50% from ($.956) million to ($.481) million, year over year for the quarter, as a result of improved gross margin and cost management efforts. On December 9, 2020, the company announced the closing of the acquisition of substantially all of the assets of Lexaria Canpharm (“Canpharm“), the cannabis products division of Lexaria Biosciences, resulting in the addition of a new B2B Line of Business.

Keep reading... Show less

Royalty Model Provides Access to Early Stage Licenced U.S. Cannabis Companies and Leverage to High-Margin Revenues

FinCanna Capital Corp. (“FinCanna” or the “Company”) (CSE:CALI), a royalty company for the licensed U.S. cannabis industry, is pleased to provide a corporate update further to its recently announced upsized financing of $2 million

Keep reading... Show less

Significant progress made as Numinus-sponsored PRIME study on psilocybin-assisted psychotherapy for opioid, stimulant and/or alcohol use disorders enters pre-implementation stage

Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), and Syreon Corporation (Syreon), a global contract research organization with expertise in conducting clinical trials across a broad range of diseases, are pleased to share that significant progress has been made in the single-arm, open-label compassionate access 1 trial of Psilocybin-Research Intervention with Motivational Enhancement (PRIME) for substance use disorders. Currently in the development stage, the PRIME study will assess the efficacy and safety of psilocybin-assisted motivational enhancement therapy.

Keep reading... Show less